SBP to reverse around $590mn to scheduled banks against CRR

By MG News | June 20, 2022 at 11:14 PM GMT+05:00

0:00

June 20, 2022 (MLN): In order to improve the liquidity in the interbank market, the State Bank of Pakistan (SBP) will likely reverse around $590 million to scheduled banks against Cash Reserve Requirement (CRR).

Accordingly, the scheduled banks have to deposit 10 percent of dollar accounts with the central bank.

The banks will again deposit CRR with SBP by October 2022.

To recall, SBP in November 2021 had increased CRR by 100bps to 6% to achieve the government’s medium-term inflation target, and reduce pressures on the rupee.

Copyright Mettis Link News

Related News

OMO Result: SBP injects Rs13.4tr

SBP reserves rise around to $13bn

PKR strengthens 9 paisa against USD

Name	Price/Vol	%Chg/NChg
KSE100	131,949.07 198.95M	0.97% 1262.41
ALLSHR	82,069.26 730.83M	0.94% 764.01
KSE30	40,387.76 80.88M	1.11% 442.31
KMI30	191,376.82 77.76M	0.36% 678.77
KMIALLSHR	55,193.97 350.11M	0.22% 119.82
BKTi	35,828.25 28.42M	3.64% 1259.85
OGTi	28,446.34 6.84M	-1.02% -293.01

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	108,125.00	110,525.00 107,865.00	-2290.00 -2.07%
BRENT CRUDE	68.51	68.89 67.75	-0.29 -0.42%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	0.75 0.78%
ROTTERDAM COAL MONTHLY	106.00	106.00 105.85	-2.20 -2.03%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	66.50	67.18 66.04	-0.50 -0.75%
SUGAR #11 WORLD	16.37	16.40 15.44	0.79 5.07%