SBP goes for OMO for absorbing additional money

Published on Sat, Jun 27 2009
KARACHI: State Bank of Pakistan (SBP) Friday obtained Rs59.40 billion from banks for one day at a markup of 7.25 percent for absorbing additional money from the banking system. Today, the central bank conducted an open market operation for absorbing additional liquidity from banks. Banks offered Rs82 billion for the purchase of treasury bills; however, the central bank sold treasury bills worth Rs59.40 billion at a markup rate of 7.25 percent. According money market dealers, additional liquidity is being witnessed in the banking system owing to commodity operation by various organizations.