SBP injects 9 billion in money market

The State Bank of Pakistan (SBP) has injected 9.70 billion rupees in the money market to fill the investment gap, Dunya News reported on Friday. The central bank provided the money by purchasing treasury papers through open market operations. 12.27% annual interest rate would be charged by the bank on the money provided. On the other hand money market dealers had offered treasury papers worth 20.40 billion rupees for the open market operations.