Dawn News

SBP to buy govt paper in reverse repo

The State Bank of Pakistan—File Photo
The State Bank of Pakistan—File Photo

KARACHI: The State Bank of Pakistan said it would buy government paper from commercial banks on Friday in a 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 am and settlement will be later in the day.

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Comments (1) Closed

Jul 15, 2012 04:04pm
Hey SBP. Continue doing that. Continue expanding the money supply via these backdoor operations. I meant Open market operations. Continue to prop up the worthless CAA1 rated Govt debt. When it all comes falling apart, SBP wont be able to save a single back!