State Bank of Pakistan mopped up Rs 658 billion from money market

State Bank of Pakistan mopped up Rs 658 billion from money market
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KARACHI – State Bank of Pakistan (SBP) has mopped up from the money market Rs 658.3 billion ( Rs 55.2 billion for 3 days and Rs 603.1 billion for 7 days) as reverse repo sale through its open market operation.

Four quotes were offered for three-day mop up and 16 for seven-day mop up.

The rate of return accepted for both categories of the operation is 8.45 percent per annum, said a SBP press release.

Economy