SBP Injects Record Rs11.6 Trillion into Banking System Amid Rupee and Gold Price Surges

The State Bank of Pakistan (SBP) took a significant step to inject liquidity into the country's banking system by conducting a reverse repo auction. The central bank injected approximately Rs11.6 trillion into the system, with total offers received amounting to Rs11,777 billion and accepted at Rs11,613 billion across two tenors.

In the four-day tenor, banks offered Rs31 billion, all of which was accepted at a rate of 11.54% after quotes ranged between 11.56% and 11.54%. For the 14-day tenor, offers totalled Rs11,746 billion, of which Rs11,583 billion was accepted at the cut-off rate of 11.51%.

The Pakistani rupee edged higher against the US dollar on Monday, appreciating 0.01%, while the gold price in Pakistan increased by Rs2,000 to reach Rs461,936 per tola after a gain in the international market.