State Bank injects Rs123.45bn

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KARACHI: The State Bank of Pakistan (SBP) on Friday injected Rs123.45 billion in the banking system to meet liquidity demand due to expenses related to Eid-ul-Fitr, a statement said.

The central bank pumped the amount at 13.2 percent for 10 days against the offered amount of Rs149.85 billion.

“Heavy amount was pumped into the banking system due heavy withdrawal for Eid shopping,” a money market dealer said. There is also demand for fresh currency notes for Eidi, the dealer added.

Recently, the SBP had decided to utilise the network of 9,000 branches of commercial banks for distribution of fresh currency notes of all denominations to the general public during the holy month of Ramazan.

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