SBP sells T-bills of Rs 3bn

To absorb the excess liquidity out of the market, State Bank of Pakistan has sold T-bills worth Rs 3 billion through Open Market Operation. The Central Bank received offers worth Rs 9.5 billion, of which SBP accepted the offers of Rs 3 billion on which interest rate is 11.69 percent with 6 days period. Mark-up of 11.68 percent would be given on the sold T-bills.