SBP injects Rs588.85 billion in banking system

SBP injects Rs588.85 billion in banking system

KARACHI: In order to help banks meet their liquidity requirement ahead of the weekly settlement, Pakistan’s central bank on Friday injected Rs588.85 billion into the money market through a 7-day reverse repo, Dispatch News Desk (DND) reported on Friday.

In a statement, the State Bank of Pakistan (SBP) said it injected the amount at 8.78 percent per annum. The banks had offered bids worth Rs624.85 billion for the open market operation.

DND