SBP sells T-bills of worth Rs49.50bn

The State Bank of Pakistan (SBP) has sold Rs 49.50 billion of Treasury Bills on Tuesday to absorb extra liquidity out of Money Market.The central bank was offered Rs 53.50 billion to sell the T-bills through Open Market Operation and the bank accepted the offer of Rs 49.50 billion. T-bills are sold under 34-day reverse-repo contracts with an interest of 12.24 percent.