(Photo: VCG)

BEIJING, May 27 (Xinhua) -- China's central bank injected funds into the monetary market on Monday to maintain ample liquidity in the banking system.

The People's Bank of China conducted 80 billion yuan (about $11.6 billion) of seven-day reverse repos at an interest rate of 2.55 percent.

No reverse repos will mature on Monday.

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.