KARACHI – The State Bank of Pakistan (SBP), on Monday, injected Rs 11 billion into the money market which, analysts believe, is short of liquidity primarily due to rupee blockade. The rupee is stuck in the face of non-performing loans (NPLs) and excessive government borrowings from central and scheduled banks, they opined. The State Bank, in its reverse repo open market operation in the Government of Pakistan Market Treasury Bills and Pakistan Investment Bonds, injected some Rs 10.95 billion into the banking system. According to SBP, offers from primary dealers for Monday’s auction aggregated to Rs 21.65 billion for the four days reverse repo.
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