KARACHI:

The State Bank of Pakistan (SBP) injected a cumulative Rs3.21 trillion into the banking system on Friday through conventional and Shariah-compliant open market operations (OMOs) to support the government's fiscal needs.

According to SBP data, Rs3.03 trillion was accepted under the conventional reverse repo (injection) facility. This included Rs63.95 billion for a 7-days tenor at 11.01% and Rs2.97 trillion for a 14-day tenor at the same rate.

Separately, under the Shariah-compliant Mudarabah-based OMO, the SBP accepted Rs176 billion, including Rs106 billion for a 7-day tenor at 11.13% and Rs70 billion for a 14-day tenor at 11.11%.

The rupee gained 0.01% against the US dollar, closing at 281.37 in the interbank market. According to Ismail Iqbal Securities, the rupee has deprecia

See Full Page