State Bank to buy govt paper in reverse repo

Published Oct 12, 2012 07:34am

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.


Do you have information you wish to share with Dawn.com? You can email our News Desk to share news tips, reports and general feedback. You can also email the Blog Desk if you have an opinion or narrative to share, or reach out to the Special Projects Desk to send us your Photos, or Videos.

More From This Section

Overstated GDP losses

About 300,000 acres of cotton area had been affected by floods, much less than previous estimates of 700,000-800,000.

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.