SBP mops up Rs 2b from banks

State Bank of Pakistan (SBP) conducting its open market operation (OMO) through government of Pakistan market treasury bills acquired Rs 2 billion for four days at a cut-off rate of 9.99 percent. The banks had offered to purchase T-Bills amounting to Rs3.50 billion, but the Central Bank viewing the needs sold the T-Bills valued Rs2 billion at the cut-off rate of 9.99 percent.