State Bank of Pakistan (SBP) on Tuesday sold treasury bills worth Rs 11.1 billion to absorb liquidity from the market. The SBP conducted Open Market Operation (OMO) to sell rupees five billion T-bills for nine days and Rs 9.1 billion outright sale was made for 63 days.
SBP overall accepted Rs 11.1 billion bid out of Rs 14.1 billion bids received, earlier on Friday, SBP also sold rupees nine billion T-bill for 13 days and rupees three billion outright for 63 days. Analyst said that SBP has only one tool to keep the control over the monetary growth and high supply of liquidity.
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