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Reading: Banks invest Rs196 billion in T-bills
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PhotoNews Pakistan > Business > Banks invest Rs196 billion in T-bills
Business

Banks invest Rs196 billion in T-bills

Web Desk
By Web Desk Published September 4, 2014 1 Min Read
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Banks invested heavily in short-term treasury bills yesterday keeping in view the possibility of a change in the interest rate this month.

The State Bank reported that investors bought T-bills worth Rs196 billion while three-month T-bills attracted Rs154bn out of the total investment. The government’s target for the auction was Rs150bn but the investment exceeded the target.

Fund managers said the banks expecting a cut in policy rate in the next monetary policy due this month were investing in short-term period to remain liquid.

However, the main inflation based on Consumer Price Index (CPI) stood at 7 per cent in August compared to 8.5pc in the same month last year, enlivening hopes for a downward revision in the interest rate.

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