Latest news with #Rs970
Express Tribune
3 days ago
- Business
- Express Tribune
SBP injects Rs1.15tr to stabilise markets
Listen to article The State Bank of Pakistan (SBP) conducted a major liquidity injection on Friday, deploying a total of Rs1.148 trillion into the banking system through a mix of conventional and Shariah-compliant open market operations (OMOs). Under the conventional reverse repo facility, SBP injected Rs970 billion, including Rs250 billion for a 6-day tenor at 11.10% and Rs720 billion (partially accepted) for a 14-day tenor at 11.08%. Simultaneously, the Shariah-compliant Mudarabah OMO contributed Rs178 billion, split almost evenly between 6-day and 14-day tenors, both priced at 11.10%. This Rs1.15 trillion operation is among the largest single-day liquidity injections this year, signalling the SBP's proactive approach to maintaining stability in the interbank market amid tight liquidity conditions. Meanwhile, the Pakistani rupee posted a marginal gain against the US dollar in the interbank market, appreciating by 0.02% on Friday. By the end of the trading session, the local currency closed at 282.02, up by five paisas from Thursday's closing rate of 282.07. According to Ismail Iqbal Securities, the rupee has depreciated by 1.23% on a calendar year-to-date (CYTD) basis and by 1.30% on a fiscal year-to-date (FYTD) basis. On the commodities front, gold prices in Pakistan declined on Friday, reflecting losses in the international market. The fall came as the US dollar gained strength and investors responded to recent tariff announcements. However, a softer US inflation report sustained hopes of a possible interest rate cut. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold dropped by Rs700 per tola, settling at Rs348,600, while the rate for 10 grams decreased by Rs599 to Rs298,868. Adnan Agar, Director at Interactive Commodities, said the market remains range-bound. "Gold hit a high of $3,322 and is trading around $3,290, with strong support at $3,260," he noted, adding that, "Unless the price breaks above $3,340$3,350, downward pressure is likely to continue."
Express Tribune
13-05-2025
- Express Tribune
Three women held for breaking into house
The Peoples Colony police arrested three women who were involved in theft in Najaf Colony and recovered hundreds of thousands of rupees in cash, gold ornaments and mobile phones from them. In the absence of Muhammad Ahmed Nawaz, a resident of Street Number One in the Najaf Colony area of Peoples Colony, three unknown women entered the house using a duplicate key and stole three tola jewelry earrings, four gold bangles, a mobile phone and Rs970,000 cash from the house and fled. After the video of the incident came to light, SHO Peoples Colony, Rana Mughfur Ahmed Khan, along with ASI Rana Abdul Hafeez Khan, raided various places and arrested three women of the gang who were involved in house thefts including Samina Bibi, wife of Shakir, resident of Katchi Abadi (slum area) Railway Station, Chiniot, Gandova daughter of Sila and Zafran Bibi, wife of Imdad, resident of Chiniot and recovered stolen cash and gold ornaments from them and started questioning them. According to the police, the three women revealed dozens of incidents by breaking locks in posh areas and opening locks with duplicate keys, which are being investigated. City Police Officer, Sahibzada Bilal Umar announced a certificate of appreciation for the SHO.
