The People's Bank of China pumps more money into the market to ease a liquidity strain. [File Photo: ifeng.com]

China's central bank pumped more money into the market on Monday to ease a liquidity strain.

The People's Bank of China conducted 180 billion yuan or nearly 30 billion U.S. dollars of seven-day reverse repurchase agreements.

The reverse repo was priced to yield 2.3 percent, unchanged from Friday's injection of 240 billion yuan.

The benchmark overnight Shanghai Interbank Offered Rate climbed by 0.7 basis points to 2 percent.