SBP mops up Rs31.9bn

KARACHI: The State Bank of Pakistan (SBP) mopped up Rs39.1 billion from the market on Thursday through a one-day open market operation (OMO), a bank statement said.
An analyst said the central bank conducted open market operation to manage the liquidity in the market and there was some excess liquidity, for which the central bank mopped up money.
The State Bank of Pakistan offered to absorb Rs31.9 billion and the banks accepted the entire offer at the rate of return of eight percent.