State Bank re-buys T-Bills worth five billion rupees

State Bank of Pakistan has provided banks with five billion rupees to end the shortage of money in the Money Market. Central Bank had received offers of 15.17 billion rupees through Open Market to buy T-Bills and Pakistan Investment Bonds by the banks. The offers of five billion rupees were accepted. The rate of interest on the re-bought T-Bills and PIBs is 12.51 percent while the duration is five days.