| GEO Business|
| OMO: SBP mops up Rs8 billion|
| Updated at: 1335 PST, Tuesday, November 03, 2009|
KARACHI: State Bank of Pakistan (SBP) Tuesday obtained Rs8 billion from banks for two days at a mark-up of 11.50 percent for absorbing additional money from the banking system.
Today, the central bank conducted an open market operation (OMO) for absorbing additional liquidity from banks.
Banks offered Rs10.50 billion for the purchase of treasury bills; however, the central bank sold treasury bills worth Rs8 billion for two days at a mark-up rate of 11.50 percent.
According money market dealers, SBP is likely to conduct OMO once again.