China’s central bank The People’s Bank of China (PBOC) has increased its short-term fund injection this week to meet higher cash demand that typically ensues towards the month-end.

In a statement PBOC said it has offered $7.71 billion (50 billion yuan) through seven-day reverse repos into the banking system on Friday in a third straight session.

Previously, the PBOC had usually injected a minimal 10 billion yuan during the month.

PBOC attributed the higher daily injection to “maintain stable liquidity conditions at the end of the month”.

This week the PBOC injected a net total of 120 billion yuan into the banking system, marking its biggest weekly injection since February.

($1 = 6.4809 Chinese yuan renminbi)

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Tags: banking system, cash demand, central bank, China, Chinese, fund, injection, liquidity, PBOC, People’s Bank of China, reverse repos, short term