SBP mops up Rs658.3bn from market

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KARACHI: The State Bank of Pakistan on Friday mopped up from the money market Rs658.3 billion (Rs 55.2 billion for three days and Rs603.1 billion for seven days) as reverse repo sale through its open market operation.

According to an SBP statement, four quotes were offered for three-day mop up while 16 were offered for seven-day mop up. The rate of return accepted for both categories of the operation is 8.45 per cent per annum.