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SBP injects Rs135bn into market

State Bank of Pakistan on Tuesday injected Rs135 billion into money market for three days as reverse repo purchase through its Open Market Operation. The rate of return accepted is 16.05 percent per annum, said SBP press release.

The exchange rate of the Pakistan rupee depreciated by 05 paisa against the US dollar in the interbank trading on Tuesday and closed at Rs224.69 against the previous day’s closing of Rs224.64. According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollar in the open market were recorded at Rs231.7 and Rs234 respectively. The price of the euro was increased by 68 paisa and closed at Rs237.16 against the previous day’s closing of Rs236.48, according to State Bank of Pakistan (SBP). The Japanese Yen lost one paisa to close at Rs1.63, whereas an increase of 81 paisa was witnessed in the exchange rate of the British Pound, which was traded at Rs275.84 as compared to its last closing of Rs 275.03. The exchange rates of the Emirates Dirham and Saudi Riyal increased by 02 paisa each to close at Rs61.17 and Rs59.75 respectively.

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