The State Bank of Pakistan injected a substantial Rs2.17 trillion into the money market on Friday through both conventional and Shariah-compliant open market operations.
The SBP’s liquidity injection represents the central bank’s continued effort to maintain financial system stability amid elevated interest rates and ongoing government borrowing needs.
According to official data, the conventional OMO injection totalled Rs1.97 trillion, fully accepted across two tenors. For the seven-day tenor, the SBP accepted Rs77.6 billion at 11.02%, while for the 14-day tenor, it accepted the full Rs1.895 trillion offered by banks at 11.01%. Separately, under the Shariah-compliant Mudarabah-based OMO, the central bank accepted Rs201 billion for a seven-day tenor at a return of 11.05%.
Read: State Bank of Pakistan Holds Interest Rate at 11%
Meanwhile, gold prices in Pakistan remained steady on Friday, reflecting trends in the international market. According to the All-Pakistan Gems and Jewellers Sarafa Association, the per-tola gold rate stood at Rs426,562, while 10-gram gold was priced at Rs365,708.
Globally, spot gold held firm at $4,077.19 per ounce after dipping more than 1% earlier in the session. The precious metal was on track for a marginal weekly loss of 0.1%. Market analysts noted that gold found support from increased bets on a potential US rate cut in December following the Federal Reserve’s dovish comments.
Adnan Agar, Director at Interactive Commodities, observed that bullion established a technical range after briefly hitting a low of $4,022, then recovered. “If prices rise above $4,150, further upside is expected; if the downward trend breaks $4,000, prices could revisit $3,950-3,900,” he stated, indicating that traders are closely watching for a breakout from current levels.
In the currency market, the Pakistani rupee appreciated slightly against the US dollar, gaining 0.01% to close at 280.62 in the interbank market.
