ISLAMABAD, June 13: Banks borrowed Rs18.5 billion from the State Bank of Pakistan’s discount window on Friday in a tight inter-bank money market, amid a lack of cash inflows.

Overnight call rates ended at 11.90 per cent, unchanged from Thursday’s close and just below the 12 per cent discount rate at which banks borrowed funds from the central bank three-day repo facility.

“Rates should ease tomorrow as there are inflows due,” said a brokerage house dealer.

Dealers said there were inflows of Rs14 billion from maturing government securities scheduled for June 14.

In the currency market, the rupee ended flat on Friday and dealers said they expect the local currency to remain stable in the short term as there were some fresh inflows expected.

The rupee was quoted at 66.50/70 to the dollar, unchanged from Thursday’s close.—Reuters