KARACHI: The State Bank of Pakistan (SBP) on Friday injected more than Rs10 trillion into the money market through its conventional and Shariah-compliant open market operations (OMOs). According to the central bank\u2019s conventional OMO (Reverse Repo Purchase), the SBP accepted bids worth Rs9.61 trillion (face value) against offers of Rs9.65 trillion. The accepted realised value stood at Rs9.23 trillion. The operation comprised Rs407.85 billion for 7-day tenor and Rs9.20 trillion for 14-day tenor, both cleared at a uniform rate of return of 11.01%. Simultaneously, under the Shariah-compliant Mudarabah-based OMO, the SBP injected Rs387.5 billion (face value), with a realised value of Rs388.82 billion. The facility included Rs294.5 billion for 7-day tenor at 11.13% and Rs93 billion for 14-day tenor at 11.09%. Meanwhile, the Pakistani rupee recorded a marginal uptick against the US dollar in the inter-bank market on Friday. By the day\u2019s close, the currency stood at 281.26 per dollar, improving by one paisa from the previous session. A day earlier, the rupee had closed at 281.27. The rupee has depreciated by 0.96% CYTD and appreciated by 0.89% FYTD, according to Ismail Iqbal Securities. Furthermore, gold prices in Pakistan remained unchanged on Friday, even as international bullion markets rose and hovered near record highs, marking a seventh straight weekly gain. The global uptrend was driven by mounting concerns over the economic fallout of a prolonged US government shutdown and expectations of interest rate cuts by the Federal Reserve. Web Desk
\nIn the local market, gold was quoted at Rs407,778 per tola, while the price of 10 grams stood at Rs349,603, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).<\/p>\n","protected":false},"excerpt":{"rendered":"
KARACHI: The State Bank of Pakistan (SBP) on Friday injected more than Rs10 trillion into the money market through its conventional and Shariah-compliant open market operations (OMOs). According to the central bank\u2019s conventional OMO (Reverse Repo Purchase), the SBP accepted bids worth Rs9.61 trillion (face value) against offers of Rs9.65 trillion. The accepted realised value […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-506823","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n