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The State Bank of Pakistan (SBP) said that Rs4,093 billion have been provided to the banks for market operations.
According to State Bank, conventional banks were given Rs4,041 billion at 17.56 percent annual interest rate in seven-day market operations.
State Bank officials stated that conventional banks were given Rs26 billion at a 17.59 percent annual interest rate in 28-day market operations, while seven-day funding of Rs25 billion was provided to Islamic banks at a 17.56 percent interest rate.
State Bank said Islamic banks have not sent any offer for 28-day funding.
Earlier, the total liquid foreign reserves of Pakistan surged to US$ 16,111.3 million as of October 11, 2024 while the forex reserves held by the State Bank of Pakistan increased to $ 11,022 million.
The SBP reserves are at a 30-month high since the March 2022 when the central bank possessed liquid foreign reserves of $ 11,425.1 billion. The total liquid foreign reserves of the country are also at 29-month high since April 2022 when volume of the total liquid reserves was accounted as $16,406 million.
The State Bank of Pakistan, in a statement issued here on Thursday, informed that total liquid foreign reserves held by the central bank increased by $ 215 million to $ 11,022.7 million during the week ended on October 11, 2024.
