Central bank injects Rs.1,622.8 billion in market

KARACHI, Apr 30 (APP): The State Bank of Pakistan, through an open market operation on Friday, injected Rs 1622.8 billion to fund the market before Eid-ul-Fitr.

According to a report of domestic Markets and Monetary Department, the central bank conducted a Reverse Repo Purchase for 7 days with a rate of return ranging between 7.05 to 7.10 percent per anum. The number of quotes offered was 21.

The bank accepted all the 21 quotes for an amount of Rs.1,622.8 billion at the rate 7.05 percent p.a.