Dawn News

State Bank to buy govt paper in reverse repo

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

KARACHI: Pakistan's central bank 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 1030 am (0530 GMT) and settlement will be later in the day.


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Comments (1) Closed



adnan
Oct 13, 2012 04:14pm
its not a long term problem solution to injecting more money in the economy that further leads toward the loss of currency value.