As Bloomberg reports, the Chinese central bank, PBOC injected most funds into two weeks via open market operations (OMOs), in a bid to meet the liquidity crunch on the back of seasonal spike in demand for cash. The PBOC auctioned 90 billion yuan ($14 billion) of seven-day reverse-repurchase agreements on Tuesday, the most since April 1. That added to 448 billion yuan of loans made to commercial lenders via the Medium-Term Lending Facility over the past week. The PBOC has increased the frequency of its open-market operations this year to strengthen control over short-term money rates. For more information, read our latest forex news.