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The State Bank of Pakistan (SBP) Friday pumped over Rs 1.26 trillion into the banking system. The fresh injection was made at an annual rate of return of 6.06 percent. The central bank conducted its Open Market Operation for seven-day tenor and accepted all 33 offered quotes worth Rs 1.263 billion. The rate of return on the bids offered ranged between 6.12 and 6.06 percent. The State Bank, normally, is believed to make such huge injections when there is a liquidity shortage in the money market.

Copyright Business Recorder, 2016

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