State Bank to buy govt paper in reverse repo
Reuters | 7th September, 2012
The State Bank of Pakistan — File Photo
KARACHI: Pakistan’s central bank said it would buy government paper from commercial banks on Friday in seven-day reverse repo to inject funds into the money market.
The State Bank of Pakistan did not say how much money it would inject through the open market operation.
The result of the auction will be announced at 1045 am (0545 GMT) and settlement will be later in the day.
Rs 446.26 Billion.. yup. But if you convert it into dollar (about $4.69 billion), it doesnt sound so bad.