China's central bank has pumped 870 billion yuan (around 133.8 billion U.S. dollars) into the market this week to ease a cash strain.

 

中国人民银行本周已向市场注入8700亿人民币（1338亿美元）缓解现金压力。

 

The People's Bank of China (PBOC) on Friday conducted 240 billion yuan of seven-day reverse repurchase agreements (repo), a process in which central banks buy securities from banks with an agreement to resell them in the future.

 

The operation followed a 250-billion-yuan reverse repo on Wednesday and one of 260 billion yuan on Thursday. With other liquidity¹ tools maturing, the total net injection was 680 billion yuan this week.

 

That was just under a weekly record of 690 billion yuan seen in January and sharply up from a net injection of 70 billion yuan last week.

 

The reverse repo on Friday was priced to yield 2.25 percent, unchanged from Thursday, according to a PBOC statement.

 

The injection was taken as the central bank's earlier medium-term lending facility (MLF) operations, reaching billions of yuan, come to mature this month.

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