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KARACHI: State bank of Pakistan (SBP) said it would buy government paper from commercial banks on Friday in 7-day reverse repo to inject funds into the money market.

The SBP did not say how much money it would inject through the open market operation.

The announcement of the auction was expected at 10:30 a.m. (0530 GMT) while the settlement would be made later in the day.

 

Copyright Reuters, 2011 

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