SBP conducts OMO

KARACHI: The State Bank of Pakistan (SBP) injected Rs85 billion at 12.13 percent markup for seven days to ease the liquidity shortage in the banking systems, Geo News reported Saturday. According to money dealers, the central bank conducted Open Market Operation to remove the scarcity of liquidity from the market.

KARACHI: The State Bank of Pakistan (SBP) injected Rs85 billion at 12.13 percent markup for seven days to ease the liquidity shortage in the banking systems, Geo News reported Saturday.

According to money dealers, the central bank conducted Open Market Operation to remove the scarcity of liquidity from the market.

The banks offered the SBP the purchase of Treasury Bills worth Rs85.40 billion, which the central bank accepted at 12.13 percent markup rate for 7 days.

According to market dealers, the banks faced the shortage of liquidity after the banks paid Rs102 billion to the central bank in maturities, after which the central bank conducted the OMO.