2 days ago
SBP pumps Rs13.5tr
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The State Bank of Pakistan (SBP) on Friday injected a total liquidity of Rs13.514 trillion into the cash-hungry banking system through open market operations (OMO).
According to official data, the central bank provided Rs12.8 trillion under a seven-day reverse repo and an additional Rs453 billion through a 14-day reverse repo.
In addition to conventional OMOs, the SBP also conducted a Shariah-compliant modaraba-based OMO, injecting Rs411 billion into the Islamic banking system.
The total liquidity injection across both conventional and Islamic windows amounted to Rs13.5 trillion, reflecting the SBP's active role in financing the government's fiscal needs indirectly amid prevailing IMF conditions.
Moreover, the Pakistani rupee continued its downward trajectory against the US dollar, slipping 0.10%. By the end of trading session, the local currency stood at 282.96/$, down 29 paisa compared to the previous day's close at 282.67.
In global markets, the US dollar strengthened along with traditional safe-haven currencies like the Japanese yen and Swiss franc, following reports of Israeli airstrikes on Iran, which caused a sudden shift in currency market sentiment.
Meanwhile, gold prices in Pakistan rose sharply, mirroring gains in the international market where the yellow metal surged as investors sought safe-haven assets amid renewed tensions in the Middle East. In the domestic market, the price of gold per tola climbed Rs4,600 to reach Rs361,500.
