The State Bank of Pakistan (SBP) Monday mopped up some Rs7.5 billion from the money market, where analysts believe enough excess liquidity had piled up. The central bank mopped up the above liquidity from the money market through conducting its open market operations under the four-day repo sale contracts of Government of Pakistan Market Treasury Bills (MTBs).
The State Bank received bids worth Rs19 billion of which the accepted bids valued at Rs7.5 billion. They accepted the bid at an annual rate of return of 12.05 percent. The bid range for the four-day repo sale was ranging from 12.05 to 12.14 percent, it said.
