SBP conducts OMO

The State Bank of Pakistan Friday conducted an Open Market Operation (OMO) which resulted in a lack of capital in the money market, the 24News HD TV channel reported.

The State Bank of Pakistan provided a total of Rs1923.1 billion through three open market operations.

The report stated that Rs581.35 billion were provided for a period of 7 days with an interest rate of 22.06% per annum.

In the second open market operation, Rs394.5 billion were provided for a period of 14 days with an interest rate of 22.07% per annum.

Rs 947.2 billion were provided for a period of 28 days with an interest rate of 22.06% per annum.