SBP gives Rs 22 billion to commercial banks

The State Bank of Pakistan has provided Rs 22 billion to the commercial banks to inject liquidity into the Money Market. The central bank had received offers of Rs 28.90 billion for re-buying T-bills and Pakistan Investment Bonds (PIBs). The bank accepted offers of Rs 22 billion. The central bank bought back PIBs and T-bills under 2-day reverse-repo at interest rate of 12.34 percent.