SHANGHAI - China's central bank will drain 83 billion yuan ($12.9 billion) from the money markets through 28-day bond repurchase agreements on Tuesday, traders said, the highest level since early June, Reuters reported.

A total of 192 billion yuan in central bank bills and repos are due to mature this week. The People's Bank of China (PBOC) conducted a net injection of 44 billion yuan into the banking system last week.

PBOC will also mop up 2 billion yuan by selling one-year bills on Tuesday, up from 1 billion yuan of such bills sold last week.