Karachi:
The Central Bank of Pakistan yesterday provided Rs 575 billion 80 crores to the country’s banks through open market operation to maintain stability in the banking system.
This amount has been provided to the banks for their financing needs through 3 different bids for 8 days-
According to the State Bank, the Central Bank had received these bids on the offer of interest ranging from 13.07 to 13.10%, after which the Central Bank approved all the bids at a total of 13.07%. Decided to release.
Speaking to Express in this regard, Moaz Azam, Head of Research at Optimus Capital Management, said that this is a routine operation whereby the central bank ensures that there is sufficient money in the banking system.
Moaz Azam further said that if we examine the rate of interest on short-term bonds, there is a slight decline in it, which was 12.50% on December 24, but on December 26, this rate decreased to 12.49%. had come
According to Tahir Abbas, Director Equities, Arif Habib Limited, the ratio of deposits to advances of the banking sector has increased to nearly 50 percent, which was 47.8 percent during the same month last year.
Earlier this ratio was 38.4% in August 2024 but now it is increasing at the current level, i.e. during this period deposits have increased by 1.6% while advances have also increased by 27.6%.
If we review the reserves of Pakistan Kaiser Mubadala, Pakistan had available reserves of 16 billion 37 billion dollars, of which 11 billion 85 billion dollars were with the Central Bank, while 4 billion 51 billion dollars were with private banks. It was millions of dollars.
In total, by the end of last week, the foreign exchange reserves decreased by 228 million dollars. Similarly, if we examine the value of the rupee, the value of the dollar decreased slightly on Thursday and one dollar was 278 rupees 37 Pakistani rupees. It was equivalent to money.
