| GEO Business|
| SBP OMO siphons off Rs7 billion|
| Updated at: 1505 PST, Saturday, March 21, 2009|
KARACHI: State Bank of Pakistan (SBP) has mopped up the additional liquidity of Rs7 billion from the banking system by resorting to open market operation (OMO).
The Central Bank through OMO issued Treasury Bills for five days at 11.8 percent repo rate for absorbing the additional liquidity from the banking system. Banks had offered to buy T-Bills worth Rs9 billion, but the Central Bank preferred accepting banks’ offer up to Rs7 billion for five days at 11.8 percent repo rate.