Pakistan central bank injects liquidity

PAKISTAN - State Bank of Pakistan said Wednesday 10 October it has injected PKR6.7 billion into the money market through one-week repurchase agreements to ease the liquidity situation.

The statement said the injection was made at 9.55%.

Despite the injection, at 0745 GMT (3:45 a.m. EDT) the overnight rate was unchanged from its level early Wednesday at 11.50%, dealers said.

Liquidity was hurt by outflows from the unwinding of a previous one-week repo deal earlier Wednesday, worth PKR10.9 billion