SBP released 308.8 billion in open market

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SBP released for reverse repo
State Bank of Pakistan (SBP) released 308.8 billion rupees into the money market for eight days for the purchase of the reverse repo through its open market operation.

Six bids of Rs 334.8 billion were offered, of which 4 of Rs 308.8 billion were accepted. The rate of return accepted is 13.31 percent per annum, said SBP release.