(Yicai Global) Nov. 10 -- China's central bank, the People's Bank of China (PBOC) net injects CNY50 billion cash into its banking system on Friday, the first net injection in November.

PBOC conducted a seven-day reverse repo of CNY40 billion (USD 6.04 billion), a 14-day reverse repo of CNY20 billion, and a 63-day reverse repo of CNY20 billion, against the CNY30 billion of previous reverse repos maturing today, representing a CNY50 billion net cash injection.

Overall, the bank has net withdrawn CNY230 billion of cash from the system this week, having pulled CNY110 billion in cash out last week.

The seven-day reverse repo bid rate was 2.45 percent, while the 14-day rate was offered at 2.60 percent and the 63-day rate was set at 2.90 percent, all unchanged from the previous open market operations.

The Shanghai interbank offered rate (SHIBOR) was higher across the board again today, with the overnight SHIBOR up 7.10 basis points at 2.7170 percent, and the one-week term rate up 3.45 basis points to 2.8455 percent.

The SHIBOR for three-month loans continued to increase, up 1.79 basis points to 4.4747 percent, representing 24 consecutive days of increases and its the highest point since July 4.