BEIJING — China’s central bank injected liquidity into the money market through reverse repos on March 19.

The People’s Bank of China (PBOC) conducted 50 billion yuan (about $7.46 billion) of seven-day reverse repos at an interest rate of 2.55 percent.

No reverse repos will mature on March 19.

A reverse repo is a process by which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.

The PBOC said the operation was designed to ease the pressure from tax payments and maintain reasonable and ample liquidity in the banking system.