SHANGHAI, Jan 16 (Reuters) - China’s central bank raised interest rates on reverse repurchase agreements, or reverse repos, used for open market operations by 5 basis points for the 63-day tenor on Tuesday, following upward adjustments on other tenors in mid-December.
The People’s Bank of China said it has raised the 63-day rate to 2.95 percent from 2.90 percent.
The last time the PBOC injected funds via the 63-day tenor was on Nov.30.
On Tuesday, the central bank injected 320 billion yuan ($49.69 billion) into money markets through 7-day, 14-day and 63-day reverse repos.
The PBOC nudged money market interest rates upward in December just hours after the Federal Reserve raised the U.S. benchmark. ($1 = 6.4404 Chinese yuan) (Reporting by Winni Zhou and John Ruwitch; Editing by Sam Holmes)