Domestic banking sector continued to face liquidity shortage as the State Bank of Pakistan (SBP) Friday injected over Rs 1 trillion into the system to reduce the widening liquidity gap. The State Bank conducted its Open Market Operation (injection) on Friday and received some 29 offers amounting to Rs 1.103 trillion for seven days ranging from 5.79 percent to 5.90 percent rate of return.
In response to the bids, the SBP accepted 26 bids amounting to Rs 1.055 trillion at 5.80 percent rate of return. Market sources said that the banks are facing some liquidity shortage, therefore in order to cover the widening liquidity gap, State Bank injected over one trillion into the banking system to support the banks.
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