KARACHI: The State Bank of Pakistan (SBP) on Friday injected Rs1.004 trillion into the banking system through dual open market operations (OMOs), employing both conventional and Shariah-compliant modes to manage liquidity.
In the conventional reverse repo OMO, the SBP accepted Rs898 billion against bids totaling Rs1.098 trillion. This included Rs198 billion for a seven-day tenor at 11.04% and Rs700 billion for a 14-day tenor at 11.01%, partially allotted on a pro-rata basis.
Through the Shariah-compliant Mudarabah OMO, the central bank provided Rs106 billion—Rs103 billion for a seven-day tenor and Rs3 billion for a 14-day tenor—both at a uniform rate of 11.13%.
Meanwhile, the Pakistani rupee continued its upward trend against the US dollar, appreciating by 0.03% in the interbank market to close at 282.47, up nine paisa from Thursday’s 282.56. This marks the rupee’s third consecutive week of gains against the greenback.
In the precious metals market, gold prices in Pakistan rose, reflecting an international rally where US gold futures reached record highs amid uncertainty over potential US import tariffs on widely traded gold bars. Domestically, gold per tola increased by Rs500 to Rs362,700, while 10-gram gold rose by Rs428 to Rs310,956.
The rise followed Thursday’s sharp surge of Rs2,900 per tola, fueled by safe-haven demand and global price gains. December US gold futures rose 1.1% to $3,491.30 per ounce after hitting a record $3,534.10, while spot gold steadied at $3,399.91, up 1% for the week.
