SBP mops up Rs973.65 billion

KARACHI: The State Bank of Pakistan (SBP) on Friday mopped up Rs973.65 billion from the money market (Rs86 billion for three days and Rs887.65 billion for seven days) as repo sale through its open market operation, a statement said. Four bids were offered for three-day mop up and 15 for seven-day operation, it added. The rate of return accepted for these two categories is 8.45 percent.