The Chinese central bank (PBOC) has quadrupled its cash injections than it did in 2015 heading into the Lunar New Year that begins from Feb 8, Bloomberg reports. Data compiled by Bloomberg showed, PBOC injected 330 billion yuan ($50 billion) using reverse-repurchase agreements this week before the holidays, taking net additions via open-market operations this year to 1.6 trillion yuan. That compares with 400 billion yuan in the corresponding period in 2015. The PBOC also took the unprecedented step of conducting the operations daily, instead of twice a week, either side of the holidays. Demand for cash usually increases as people hoard funds to pay for personal consumption such as trips, feasts and gifts in the run-up to Chinese New Year. For more information, read our latest forex news.