State Bank of Pakistan to buy govt paper in reverse repo

Shoaib Ur Rehman December 9, 2011

state-bankKARACHI: State Bank of Pakistan (SBP) said it would buy government paper from commercial banks on Friday in seven-day reverse repo to inject funds into the money market.

The State Bank of Pakistan did not say how much money it would inject through the open market operation.

The result of the auction will be announced at 10:30 a.m. (0530 GMT) and settlement will be later in the day.

Copyright Reuters, 2011

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