KARACHI: The State Bank of Pakistan (SBP) has injected Rs947.55 billion into the banking system, which has surged the open market injections to Rs979.85 billion last week.
The central bank injected the massive amount into the system just two days after it generated Rs46.472 billion through auctioning Pakistan Investment Bonds. It had also pumped in Rs32.3 billion in an open market operation just a day before the PIB auction.
The SBP raised Rs19.964 billion from three-year PIBs at a cut-off yield of 8.29pc, followed by Rs15.43 billion from five-year PIBs at 8.7476pc and Rs11.078 billion from 10-year PIBs at 9.5002pc. Three-year PIBs had attracted the highest amount of Rs40.539 billion, followed by five-year PIBs with Rs34.393 billion and 10-year PIBs with Rs22.671 billion. No bids were received for 20-year bonds.
According to the statement of position of all scheduled banks for the week ending March 13, investments of all scheduled banks stood at Rs5,639.485 billion, up 0.21pc from the prior week’s figure of Rs5,627.514 billion.
Investments of all commercial banks stood at Rs5,613.315 billion in the week, against the preceding week’s figure of Rs5,600.942 billion, showing a rise of 0.22pc. Investments of all specialised banks stood at Rs26.17 billion in the week, against the preceding week’s figure of Rs26.572 billion.
