SBP buys T-Bills worth Rs21.40 billion
Posted on May 29, 2009
KARACHI: State Bank of Pakistan (SBP) has provided Rs21.40 billion for eight days at the rate of 12.91 percent to the banks for tiding over the liquidity crunch in the banking system. Money market dealers said that that Central Bank resorted to open market operation for buying back the T-Bills from the banks for removing the liquidity crunch. The Central Bank had offered Rs26 billion T-Bills for sales for eight days, but viewing the need of banking system Rs21.40 billion worth of T-Bills were bought for eight days at the rate of 12.91 percent.
