KARACHI, Aug 1: Short-term money rates rose on Friday after the central bank conducted a repo operation to mop up liquidity from the money market but dealers said rates were expected fall on Saturday.
Overnight call rates ended at 12.50 per cent, up from Thursday’s close of 10.5 per cent.
In the currency market, dealers said the rupee ended flat at 71.45/55 to the dollar and dealers said rupee traded in a narrow range.
Dealers said sentiment was still weak due to political uncertainty including reports of America mistrust of Pakistan’s main military spy agency and weak macro-economic fundamentals.—Reuters
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