SBP sells treasury bills worth Rs 22 billion

The State Bank on Monday sold Rs 22 billion worth of Treasury Bills in a one- and four-week repo operation.
The SBP initiated to mop up funds from the liquid money market.
The central bank received total offers of Rs 26.6 billion and accepted offers worth 9.5 billion rupees for one-week at an annual yield of 0.95 percent.
For the four-week paper, the SBP accepted bids worth 12.5 billion rupees at an annual yield of 1.15 percent.
Market experts said that the money market was over-liquid and was long with at least Rs 20 billion.