SHANGHAI, Nov 16 (Reuters) - China's central bank will inject a total of 140 billion yuan ($20.42 billion) through a variety of reverse bond repurchase agreements on Wednesday, traders said.
The People's Bank of China (PBOC) will inject 110 billion yuan through seven-day reverse bond repurchase agreements and 30 billion yuan through 14-day reverse repos.
The PBOC drained a net 300 billion yuan from the market through open market operations last week.
In early trade on Wednesday, the volume weighted average of the seven-day repo rate was at 2.3706 percent, down 10.37 basis points from the previous closing average rate. ($1 = 6.8556 Chinese yuan renminbi) (Reporting by the Shanghai newsroom; Editing by Paul Tait)