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Pakistan: Open Market Operations Statistical Bulletin - February 2020

IM Insights
By IM Insights
7 months ago
Pakistan: Open Market Operations Statistical Bulletin - February 2020

Sales

SBP


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  1. 6 .1 Government of Pakistan Treasury Bills Million Rupees 2018 2019 Jun-18 Jun-19 Nov Dec Aug Sep Oct Nov Dec Issue 1,368,012 134,468 18,778 2,039,825 2,104,299 194,287 528,884 701,665 424,855 Discount Allowed 21,164 3,793 380 48,199 66,146 6,137 16,428 21,392 13,182 Discharged 73,207 25,520 97,972 41,177 3,834,080 137,496 2,797,870 1,307,399 194,287 Discount Paid 1,054 619 1,745 734 108,715 4,032 Outstanding Balance 5,179,920 4,927,527 3,314,729 5,313,377 4,242,765 4,299,556 Issue 2,262 - - 668 40,000 96,002 211,319 240,526 22,744 Discount Allowed 77 - - 34 2,780 6,645 13,988 15,848 1,506 Discharged 77,954 668 3,274 2,262 1,425 - 593 1,669 - Discount Paid 2,336 34 104 77 75 - 33 106 - Outstanding Balance 70,472 3,687 6,409 4,815 177,489 273,491 484,217 723,074 745,818 Issue - 443 - - 660,228 683,423 692,447 145,780 372,000 Discount Allowed - 57 - - 93,393 94,029 91,101 18,615 48,379 Discharged 5,653 - - - - - - - - Discount Paid 341 - - - - - - - - Outstanding Balance 44,979 443 - - 759,574 1,442,996 3 Months Treasury Bills 88,126 40,937 6,137 2,030,570 1,424,836 1,655,404 6 Months Treasury Bills 12 Months Treasury Bills 2,135,444 2,281,224 2,653,223 Source: Domestic Markets & Monetary Management Department SBP Note: Six months Government of Pakistan Treasury Bills restarted w. e. f. June 1998 and 3 & 12 Months Government of Pakistan Treasury Bills restarted w.e.f July 1998. 122
  2. 6 .2 Sale / Purchase of Treasury Bills under Open Market Operation by SBP with Banks SALE (Billion Rupees ) 2015-16 PERIODS 2016-17 Bid Amount Bid Amount Offered Accepted July 2017-18 2018-19 Bid Amount Offered Accepted 2019-20 Bid Amount Offered Accepted Bid Amount Offered Accepted Offered Accepted 169.5 169.5 - - - - 1,330.5 1,272.5 310.8 308.8 - - 138.0 109.0 - - 894.3 894.3 - - September 54.5 21.0 - - 63.0 38.0 235.3 235.3 - - October 41.5 28.0 179.7 95.5 113.8 105.0 2,478.3 2,225.7 935.1 824.1 August November - - - - 91.5 84.5 6,659.7 6,630.6 - - December 63.3 43.0 178.7 150.0 - - 2,319.5 2,319.5 - - January - - - - 343.0 305.1 9,265.4 8,929.1 February - - 59.0 20.9 - - 5,226.9 5,200.8 March 121.0 95.1 - - 786.8 641.5 3,359.3 3,354.3 April 116.9 61.9 - - 165.9 123.3 3,257.3 3,163.8 May 120.5 83.6 - - 136.5 100.0 5,781.2 5,777.6 June 66.8 44.3 51.6 40.0 - - 111.0 105.0 62.8 45.5 50.6 34.6 141.7 116.4 3,409.9 3,342.4 207.7 188.8 2.1 1.5 1.7 1.2 4.7 3.9 113.7 111.4 6.9 6.3 Average per month per day PURCHASE 2015-16 PERIODS Amount 2016-17 2017-18 Amount Amount 2018-19 2019-20 Amount Amount Offered Injected Offered Injected Offered Injected Offered Injected Offered Injected July 4,335.1 4,200.5 6,965.6 6,655.1 6,181.3 5,797.7 3,608.3 2,906.8 4,687.7 4,374.4 August 4,637.3 4,553.5 3,951.0 3,873.5 6,066.4 5,940.3 8,370.5 8,249.2 8,269.7 7,999.3 September 6,602.8 5,818.4 6,206.9 5,870.9 7,881.6 7,733.5 1,959.3 1,670.0 7,450.5 7,317.3 October 7,058.8 6,668.1 4,024.4 3,960.4 6,245.0 5,968.4 99.5 71.0 5,288.7 5,241.3 November 5,432.5 5,318.9 3,242.3 3,096.9 6,454.0 6,252.5 - - 3,423.6 3,123.3 December 6,465.0 6,121.8 4,551.0 4,234.6 8,943.3 8,590.5 6,569.7 5,555.1 4,196.8 3,954.6 January 4,863.4 4,598.6 4,099.7 3,878.5 4,612.4 4,390.3 - - February 5,585.2 5,253.8 4,127.9 3,953.7 5,946.7 5,522.7 3,257.4 3,066.0 March 7,165.9 6,908.0 5,537.5 5,373.8 4,140.8 3,906.9 563.7 484.0 April 6,258.7 6,108.9 5,270.7 5,195.4 3,523.0 3,105.1 548.5 442.0 May 5,158.8 5,105.8 5,374.6 5,278.7 3,198.2 2,741.0 1,535.2 1,464.4 June 7,564.2 6,943.7 7,385.0 7,049.8 7,129.4 6,586.2 3,977.5 3,399.7 5,927.3 5,633.3 5,061.4 4,868.4 5,860.2 5,544.6 2,540.8 2,275.7 5,552.8 5,335.0 197.6 187.8 168.7 162.3 195.3 184.8 84.7 75.9 185.1 177.8 Average per month per day Source: Domestic Markets & Monetary Management Department, SBP 123
  3. 6 .3 SBP Overnight Repo/ Reverse Repo Facilities Cash Accommodation 2015-16 2016-17 2017-18 (Million Rupees) 2019-20 2018-19 PERIODS SBP Overnight Reverse Repo (Ceiling) SBP Overnight Repo (Floor) SBP Overnight Reverse Repo (Ceiling) SBP Overnight Repo (Floor) SBP Overnight Reverse Repo (Ceiling) SBP Overnight Repo (Floor) SBP Overnight Reverse Repo (Ceiling) SBP SBP SBP Overnight Overnight Overnight Repo Reverse Repo (Floor) Repo (Floor) (Ceiling) July August September October November December January February March April May June 244,850 137,300 540,000 204,100 76,600 298,100 121,600 96,200 288,600 77,900 44,000 625,500 6,400 1,000 81,850 7,700 2,000 61,650 18,350 92,400 4,000 255,000 164,950 269,000 70,500 28,100 800 36,650 110,100 11,600 39,100 45,000 25,000 134,850 6,650 5,200 6,000 25,650 11,700 33,900 22,800 61,800 173,000 18,650 7,800 37,200 40,800 67,000 45,900 150,400 12,400 47,000 95,000 92,900 242,500 3,500 13,500 38,500 12,400 47,800 63,800 - 167,100 46,900 277,900 265,300 54,600 276,800 49,900 109,400 57,275 692,600 205,100 257,000 107,000 39,500 82,500 162,000 4,700 16,150 201,900 115,200 104,200 99,550 186,000 167,150 76,400 25,400 44,400 355,750 93,400 214,450 29,700 30,600 Average per month per day 229,563 7,652 44,196 1,473 77,971 2,599 30,446 1,015 69,908 2,330 14,958 499 204,990 6,833 69,429 2,314 99,817 3,327 120,650 4,022 SBP Overnight Repo/ Reverse Repo Rates 2015-16 PERIODS July August September October November December January February March April May June SBP Reverse Repo Rate1 (Ceiling) 7.00 7.00 6.50 6.50 6.50 6.50 6.50 6.50 6.50 6.50 6.25 6.25 2016-17 SBP Repo Rate2 (Floor) 5.00 5.00 4.50 4.50 4.50 4.50 4.50 4.50 4.50 4.50 4.25 4.25 SBP Reverse Repo Rate1 (Ceiling) 6.25 6.25 6.25 6.25 6.25 6.25 6.25 6.25 6.25 6.25 6.25 6.25 2017-18 SBP Repo Rate2 (Floor) SBP Reverse Repo Rate1 (Ceiling) 4.25 4.25 4.25 4.25 4.25 4.25 4.25 4.25 4.25 4.25 4.25 4.25 6.25 6.25 6.25 6.25 6.25 6.25 6.50 6.50 6.50 6.50 7.00 7.00 (Percent per annum) 2019-20 2018-19 SBP Repo Rate2 (Floor) 4.25 4.25 4.25 4.25 4.25 4.25 4.50 4.50 4.50 4.50 5.00 5.00 SBP Reverse Repo Rate1 (Ceiling) 8.00 8.00 8.00 9.00 9.00 10.50 10.50 10.75 10.75 11.25 12.75 12.75 SBP Repo Rate2 (Floor) 6.00 6.00 6.00 7.00 7.00 8.50 8.50 8.75 8.75 9.25 10.75 10.75 SBP Reverse Repo Rate1 (Ceiling) 13.75 13.75 13.75 13.75 13.75 13.75 SBP Repo Rate2 (Floor) 11.75 11.75 11.75 11.75 11.75 11.75 Source: Domestic Markets & Monetary Management Department, SBP NOTE:1. SBP 3-day repo rate was renamed as SBP reverse repo rate w.e.f. August 17, 2009. SBP reverse repo rate (also known as policy rate or discount rate) is the rate at which banks borrow from SBP on an overnight basis. 2.SBP Repo rate (introduced w.e.f. August 17, 2009) is the rate at which banks deposit their end-of-day excess cash with SBP on an overnight basis. 124
  4. 6 .4 Auction of Government of Pakistan Market Treasury Bills (Million Rupees) AUCTION 3 Months Treasury Bills 6 Months Treasury Bills 12 Months Treasury Bills Weighted Cut-off Weighted Weighted Amount Amount Cut-off Amount Amount Amount Amount Cut-off Average Yield Average Average Offered Accepted Yield () Offered Accepted Offered Accepted Yield () () () () () SETTLEMENT DATE 2018 06-Dec-18 20-Dec-18 2,286,581 2,063,481 37,543 24,543 10.3013 10.3013 10.2670 10.2966 50,802 1,070 590,930 280,004 10.3013 10.3013 10.3004 10.3012 ** ** 2,257,811 2,177,361 557,013 500,663 10.5500 10.5500 10.5278 10.5498 7,550 ** 2019 03-Jan-19 17-Jan-19 14-Feb-19 28-Feb-19 618,122 298,525 702 10.3499 * * 10.3499 * ** ** ** ** ** ** ** ** ** ** ** ** ** ** ** ** ** ** ** ** 1,500 10.5999 ** ** 10.5953 ** ** ** ** ** ** ** ** ** ** ** ** ** ** ** ** ** ** ** ** ** 626 11.0899 * * 11.0899 * ** ** ** ** ** ** ** ** ** ** 1,775 12.8010 12.6958 ** ** ** ** ** ** ** ** ** * 2,500 15,468 500 13.1500 * * 13.1500 * ** ** 144,564 13.9500 ** 1,000 13.8479 125,178 * * 112,728 14.1000 * 14.0167 ** ** 14-Mar-19 28-Mar-19 16,357 21,797 14,342 11,797 10.5500 10.5500 10.5492 10.5428 ** ** 11-Apr-19 25-Apr-19 2,827,892 1,798,981 455,247 638,505 11.0000 10.9799 10.9972 10.9503 1,276 620 09-May-19 23-May-19 603,286 603,286 3,306,756 3,228,656 11.2491 12.7495 11.0011 12.5747 1,775 110,854 27,408 12.7493 12.7491 12.7453 12.7381 ** 5,245 04-Jul-19 18-Jul-19 239,120 114,120 2,077,612 2,063,887 12.7495 13.7499 12.7421 ** 13.6628 147,314 01-Aug-19 16-Aug-19 29-Aug-19 857,768 822,109 1,247,240 1,174,340 260,296 173,996 13.7499 13.7499 13.7499 13.7457 13.7483 13.7490 45,737 36,566 7,877 34,537 13.9500 5,866 13.9500 2,377 13.9399 13.9498 55,235 13.9389 188,493 13.9399 710,643 52,435 14.2400 96,618 14.2499 604,568 14.2400 14.1557 14.2169 14.1880 10-Jun-19 20-Jun-19 211,354 48,408 ** ** ** ** ** * ** * 12-Sep-19 26-Sep-19 123,469 130,708 74,916 125,508 13.7397 13.7300 13.7361 13.7179 97,996 83,576 70,496 13.9291 32,151 13.8390 13.9064 1,473,175 13.8290 994,722 367,357 13.9300 410,095 13.8499 13.8312 13.7651 10-Oct-19 24-Oct-19 538,968 929,302 345,945 199,366 13.6898 13.2981 13.6391 127,576 13.2504 290,162 20,776 13.5549 204,532 13.2999 13.5549 1,967,839 13.2468 882,403 516,828 13.4699 266,720 12.7900 13.4272 12.7405 07-Nov-19 21-Nov-19 928,738 235,844 531,213 191,844 13.2902 13.5899 13.1703 335,702 13.4608 110,117 238,797 13.2899 17,577 13.2899 13.2097 313,499 13.2766 188,606 117,789 12.7900 46,606 13.2499 12.7127 13.0365 05-Dec-19 19-Dec-19 453,957 462,584 203,315 234,722 13.5391 13.4897 13.5121 121,761 13.4549 54,039 9,561 13.2899 14,689 13.2899 13.2888 623,912 13.2678 322,261 185,568 13.1400 234,811 13.1340 13.0645 13.0220 Source: Domestic Markets & Monetary Management Department, SBP * = Bids Rejected **= No Bids Received 125
  5. 6 .5 Auction of Pakistan Investment Bonds (PIBs) Fixed Rate AUCTION SETTLEMENT DATE Tenure Coupon Rate () Amount Offered Amount Accepted Price Accepted = Rs.100 Cut-off Yield Accepted () (Million Rupees) Weighted Yield Average Accepted () 25-Jul-19 3-Years 5-Years 10-Years 20-Years 7.25 8.00 8.75 10.75 168,592.80 268,747.50 261,730.30 - 124,364.90 72,091.80 28,808.20 - 88.3519 82.7237 75.5024 - 14.2500 13.8000 13.5500 - 14.0206 13.7740 13.4548 - 22-Aug-19 3-Years 5-Years 10-Years 20-Years 7.25 8.00 8.75 10.75 465,672.40 293,951.40 271,977.00 2,758.80 417,927.60 65,221.40 30,543.90 * 88.7331 83.6183 77.3050 - 14.2500 13.5500 13.1495 - 14.1519 13.4860 13.1017 - 19-Sep-19 3-Years 5-Years 10-Years 20-Years 9.00 9.50 10.00 11.00 384,188.00 195,022.00 203,602.60 5,000.00 89,648.80 84,437.70 50,416.30 * 90.43 89.09 87.24 - 12.9500 12.5000 12.2483 - 12.8683 12.3760 12.1482 - 31-Oct-19 3-Years 5-Years 10-Years 20-Years 9.00 9.50 10.00 11.00 147,268.60 120,615.00 125,541.50 500.00 52,513.10 37,705.00 35,802.20 * 93.2952 92.3094 92.0755 - 11.8000 11.6000 11.3500 - 11.7130 11.5151 11.2636 - 14-Nov-19 3-Years 5-Years 10-Years 9.00 9.50 10.00 113,039.30 116,628.00 40,167.00 59,166.90 52,215.00 22,554.00 93.3663 92.8700 92.0875 11.7999 11.4500 11.3500 11.7640 11.3903 11.2800 20-Years 11.00 1,500.00 * 3-Years 5-Years 10-Years 20-Years 9.00 9.50 10.00 11.00 115,708.20 138,656.40 82,400.00 1,500.00 58,637.20 56,046.00 36,760.00 * 93.6238 93.8369 94.0876 11.7500 11.1939 10.9968 11.6954 11.1511 10.9453 12-Dec-19 Floating Rate SETTLEMENT DATE Tenure Face Value Amount Offered1 Amount Accepted2 Cutoff Margin3 (bps) 21-Mar-19 22-Mar-19 18-Apr-19 30-May-19 10-Year 10-Year 10-Year 10-Year 67,750.00 67,750.00 104,250.00 68,500.00 9,255.00 9,255.00 65,325.00 25,007.00 70 70 70 70 30-Jun-19 25-Jul-19 22-Aug-19 19-Sep-19 31-Oct-19 14-Nov-19 12-Dec-19 10-Year 10-Year 10-Year 10-Year 10-Year 10-Year 10-Year 56,000.00 128,150.00 47,500.00 158,500.00 198,157.20 128,100.00 142,450.00 15,010.50 84,150.00 41,550.00 93,705.00 51,850.00 54,500.00 72,200.00 75 75 75 100.4829 102.2282 101.7734 101.7689 *= Bid Rejected Source: Domestic Markets & Monetary Management Department, SBP 1-Amount offered only includes Competitive bids. 2-Amount accepted also includes Non-Competitive bids and Short selling. Securities will be issued at Face Value (Rs. 100) 3-This cut-off margin will be applicable to all accepted bids. 126
  6. 6 .6 KIBOR (Percent per annum) PERIODS 1 Week Bid 2018 Nov Dec Feb Mar Apr Jul Aug Sep Oct Nov Dec Bid Offer Bid Offer 3 Months 6 Months 9 Months 12 Months Bid Bid Bid Bid Offer Offer Offer Offer 8.30 8.80 8.34 8.84 8.44 8.94 9.08 9.33 9.62 9.87 9.84 10.34 10.01 10.51 End-Month 8.49 8.99 8.65 9.15 8.92 9.42 9.35 9.60 9.77 10.02 9.94 10.44 10.16 10.66 Month Average 9.96 10.46 9.97 10.47 10.02 10.52 10.25 10.50 10.41 10.66 10.51 11.01 10.68 11.18 10.06 10.56 10.08 10.58 10.11 10.61 10.30 10.55 10.55 10.80 10.67 11.17 10.85 11.35 Month Average 9.78 10.28 9.82 10.32 9.87 10.37 10.27 10.52 10.51 10.76 10.65 11.15 10.83 11.33 End-Month 9.79 10.29 9.83 10.33 9.92 10.42 10.27 10.52 10.50 10.75 10.65 11.15 10.82 11.32 Month Average 10.10 10.60 10.14 10.64 10.17 10.67 10.46 10.71 10.60 10.85 10.75 11.25 10.92 11.42 End-Month 10.13 10.63 10.15 10.65 10.19 10.69 10.48 10.73 10.59 10.84 10.75 11.25 10.95 11.45 Month Average 10.13 10.63 10.17 10.67 10.24 10.74 10.54 10.79 10.65 10.90 10.78 11.28 10.98 11.48 End-Month 10.16 10.66 10.27 10.77 10.43 10.93 10.74 10.99 10.85 11.10 10.92 11.42 11.05 11.55 Month Average 10.48 10.98 10.52 11.02 10.58 11.08 10.87 11.12 11.00 11.25 11.09 11.59 11.15 11.66 End-Month 10.49 10.99 10.53 11.03 10.58 11.08 10.85 11.10 11.00 11.25 11.09 11.59 11.15 11.65 May Month Average Jun Offer 1Month Month Average End-Month 2019 Jan 2 Weeks 11.20 11.70 11.26 11.76 11.37 11.87 11.79 12.04 11.92 12.17 12.02 12.52 12.14 12.64 End-Month 12.20 12.70 12.23 12.73 12.29 12.79 12.63 12.88 12.76 13.01 12.86 13.36 12.97 13.47 Month Average 12.24 12.74 12.27 12.77 12.32 12.82 12.68 12.93 12.81 13.06 12.92 13.42 13.06 13.56 End-Month 12.27 12.77 12.32 12.82 12.37 12.87 12.72 12.97 12.86 13.11 12.97 13.47 13.13 13.63 Month Average 12.69 13.19 12.75 13.25 12.83 13.33 13.18 13.43 13.31 13.56 13.38 13.88 13.47 13.97 End-Month 13.21 13.71 13.26 13.76 13.30 13.80 13.65 13.90 13.76 14.01 13.81 14.31 13.83 14.33 Month Average 13.21 13.71 13.27 13.77 13.31 13.81 13.66 13.91 13.82 14.07 13.88 14.38 13.94 14.44 End-Month 13.21 13.71 13.26 13.76 13.31 13.81 13.68 13.93 13.83 14.08 13.89 14.39 13.95 14.45 Month Average 13.18 13.68 13.23 13.73 13.30 13.80 13.62 13.87 13.71 13.96 13.69 14.19 13.62 14.12 End-Month 13.20 13.70 13.25 13.75 13.31 13.81 13.60 13.85 13.65 13.90 13.63 14.13 13.55 14.05 Month Average 13.09 13.59 13.14 13.64 13.19 13.69 13.32 13.58 13.37 13.62 13.23 13.73 13.09 13.59 End-Month 12.95 13.45 13.00 13.50 13.02 13.52 13.07 13.32 13.08 13.33 12.86 13.36 12.78 13.28 Month Average 13.05 13.55 13.07 13.57 13.09 13.59 13.24 13.49 13.24 13.49 12.97 13.47 12.92 13.42 End-Month 13.07 13.57 13.09 13.59 13.14 13.64 13.39 13.64 13.36 13.61 13.11 13.61 13.06 13.56 Month Average 13.08 13.58 13.11 13.61 13.15 13.65 13.30 13.55 13.25 13.50 13.03 13.53 12.93 13.43 End-Month 13.12 13.62 13.14 13.64 13.18 13.68 13.30 13.55 13.24 13.49 13.01 13.51 12.94 13.44 KIBOR :Karachi Interbank Offered Rate Source: Reuters Archive Link: http://www.sbp.org.pk/ecodata/kibor_index.asp 127
  7. 6 .7 Inter-Bank Weighted Average Call Rates ( Per Annum) PERIODS 2018 2019 Overnight 1 Week 2 Weeks 1 Month 3 Months 6 Months Oct 8.37 8.55 8.19 8.26 8.65 9.24 Nov 8.66 8.42 8.36 8.26 - - Dec 10.06 9.78 9.63 10.06 - - Jan 9.62 8.94 8.86 9.81 - - Feb 9.83 9.27 9.70 10.44 - - Mar 10.37 10.08 10.35 10.50 - 9.00 Apr 10.29 9.50 9.86 10.19 10.87 - May 10.96 10.96 11.50 12.33 - 10.92 Jun 11.47 10.71 12.12 12.03 13.18 - Jul 12.10 11.20 11.35 12.65 12.62 12.96 Aug 13.19 13.13 12.84 13.23 - 13.61 Sep 12.59 12.05 11.88 13.34 13.35 13.58 Oct 12.62 11.13 12.74 12.86 13.60 13.38 Nov 12.65 11.37 12.08 12.52 - - Dec 12.53 8.79 11.07 11.96 12.59 12.65 Source: Domestic Markets & Monetary Management Department, SBP Note: Weighted Average Call Rates of all the call deals executed during the month. 128
  8. Inter- Bank Weighted Average Call Rates Weekly 14 .00 13.00 12.00 Rates 11.00 10.00 9.00 8.00 7.00 1 Week Dec-19 Nov-19 Oct-19 Sep-19 Aug-19 Jul-19 Jun-19 May-19 Apr-19 Mar-19 Jan-19 Dec-18 5.00 Feb-19 6.00 2 Weeks Monthly 15.00 14.00 13.00 12.00 10.00 9.00 8.00 7.00 1 Month 3 Months 129 Dec-19 Nov-19 Oct-19 Sep-19 Aug-19 Jul-19 Jun-19 May-19 Apr-19 Mar-19 Feb-19 5.00 Jan-19 6.00 Dec-18 Rates 11.00
  9. 6 .8 SBP Mark to Market Rates Major Currencies US Dollar Euro Japanese Yen UK Pound Sterling Date Ready 1Week 1 Month Ready 1Week 1 Month Ready 1Week 1 Month Ready 1Week 1 Month 02-Dec-19 155.2892 155.6079 156.5704 171.0044 171.4275 172.8699 1.4160 1.4194 1.4317 200.3541 200.8020 202.3081 03-Dec-19 155.1881 155.5077 156.4703 171.9484 172.3742 173.8153 1.4233 1.4267 1.4390 201.3410 201.7915 203.2966 04-Dec-19 155.1366 155.4274 156.4464 171.8293 172.2219 173.6907 1.4271 1.4303 1.4428 202.4843 202.8984 204.4519 05-Dec-19 155.0996 155.3514 156.3031 172.0210 172.3717 173.7606 1.4240 1.4268 1.4387 203.6148 203.9808 205.4523 06-Dec-19 155.0685 155.2305 156.1147 172.1725 172.4242 173.7435 1.4278 1.4298 1.4411 203.5506 203.7997 205.1830 09-Dec-19 154.9679 155.2267 156.0985 171.5107 171.8696 173.2050 1.4287 1.4316 1.4432 204.0540 204.4338 205.8299 10-Dec-19 154.9813 155.2783 156.2345 171.6340 172.0359 173.4566 1.4274 1.4306 1.4429 203.8547 204.2841 205.7966 11-Dec-19 154.9836 155.2902 156.3061 171.8148 172.2273 173.7220 1.4259 1.4292 1.4421 203.8654 204.3066 205.9006 12-Dec-19 154.9856 155.2785 156.2784 172.5222 172.9209 174.3997 1.4263 1.4295 1.4421 204.7283 205.1527 206.7259 13-Dec-19 154.9613 155.2495 156.1421 173.2313 173.6258 174.9697 1.4133 1.4164 1.4277 207.8884 208.3115 209.7357 16-Dec-19 155.0065 155.2353 156.0450 172.5300 172.8805 174.1441 1.4157 1.4184 1.4291 207.1739 207.5295 208.8476 17-Dec-19 154.9531 155.1524 155.9107 172.6642 172.9697 174.1814 1.4135 1.4158 1.4261 204.3211 204.6260 205.8630 18-Dec-19 154.9476 155.0841 155.8214 172.6116 172.8352 174.0221 1.4156 1.4174 1.4273 203.1363 203.3502 204.5575 19-Dec-19 154.9004 155.1032 155.7504 172.4273 172.7253 173.7939 1.4138 1.4161 1.4250 202.9659 203.2686 204.3506 20-Dec-19 154.8956 155.1826 156.0690 172.2749 172.6660 173.9814 1.4162 1.4204 1.4300 201.8290 202.2405 203.6094 23-Dec-19 154.9088 155.2394 156.2442 171.6777 172.2049 173.5863 1.4162 1.4209 1.4318 201.6758 202.2468 203.6931 24-Dec-19 154.8996 155.2532 156.2868 171.6675 172.2297 173.6371 1.4158 1.4208 1.4319 200.2697 200.8690 202.3406 26-Dec-19 155.0730 155.4330 156.4920 172.0303 172.6012 174.0419 1.4155 1.4206 1.4325 201.3623 201.9894 203.4934 27-Dec-19 155.0317 155.3885 156.4031 172.5968 173.1585 174.5531 1.4161 1.4202 1.4313 202.5102 203.1314 204.5931 30-Dec-19 154.9350 155.2960 156.3194 173.3723 173.8500 175.2653 1.4191 1.4230 1.4343 203.0191 203.5348 205.0171 31-Dec-19 154.8476 155.1970 156.2041 173.5841 174.0516 175.4395 1.4255 1.4293 1.4405 203.4465 203.9463 205.4096 Source: Domestic Markets & Monetary Management Department, SBP 130
  10. 6 .8 SBP Mark to Market Rates Major Currencies Swiss Frank Date Ready 1Week 02-Dec-19 155.2736 155.6659 03-Dec-19 156.7240 04-Dec-19 Australian Dollar 1 Month Ready 1Week Saudi Arabian Riyal 1 Month 1 Month Kuwaiti Dinar Ready 1Week Ready 1Week 1 Month 157.0365 105.3404 105.5750 106.3064 41.4104 41.4943 41.7488 510.5677 511.5821 514.6201 157.1200 158.4875 106.4358 106.6708 107.4015 41.3835 41.4676 41.7221 510.7896 511.8246 514.9082 157.0367 157.4034 158.7941 105.9350 106.1482 106.9073 41.3698 41.4462 41.7157 510.7041 511.6414 514.9166 05-Dec-19 156.8643 157.1919 158.5044 105.9873 106.1745 106.8853 41.3599 41.4259 41.6775 510.7169 511.5257 514.5780 06-Dec-19 156.9757 157.2132 158.4616 106.1444 106.2716 106.9384 41.3516 41.3937 41.6272 510.7826 511.2960 514.1009 09-Dec-19 156.5491 156.8844 158.1485 105.7579 105.9511 106.6125 41.3248 41.3927 41.6229 510.3337 511.1774 513.9299 10-Dec-19 157.0385 157.4144 158.7618 105.5500 105.7686 106.4810 41.3272 41.4053 41.6592 510.3609 511.3306 514.3606 11-Dec-19 157.4077 157.7938 159.2083 105.8228 106.0487 106.8056 41.3279 41.4093 41.6794 510.5197 511.5212 514.7488 12-Dec-19 157.8426 158.2168 159.6144 106.6921 106.9093 107.6602 41.3273 41.4054 41.6704 510.7115 511.6682 514.8443 13-Dec-19 157.7455 158.1136 159.3774 107.1558 107.3703 108.0483 41.3197 41.3971 41.6368 510.9514 511.8468 514.7021 16-Dec-19 157.4629 157.7920 158.9812 106.5592 106.7369 107.3605 41.3284 41.3900 41.6064 510.8981 511.6439 514.1939 17-Dec-19 157.4887 157.7766 158.9166 106.1816 106.3374 106.9258 41.3142 41.3679 41.5723 510.6211 511.2697 513.6497 18-Dec-19 158.0534 158.2659 159.3874 106.1081 106.2162 106.7853 41.3105 41.3486 41.5485 510.6199 511.0581 513.3507 19-Dec-19 158.0132 158.2943 159.3062 106.5017 106.6568 107.1651 41.2969 41.3531 41.5307 510.2120 510.8675 512.8611 20-Dec-19 158.0084 158.3749 159.6142 106.7695 106.9829 107.6580 41.2890 41.3666 41.6012 510.1460 511.0483 513.8328 23-Dec-19 157.9091 158.4095 159.7035 107.1427 107.3942 108.1552 41.2925 41.3856 41.6524 510.1223 511.2023 514.3928 24-Dec-19 157.5944 158.1332 159.4433 107.1983 107.4624 108.2420 41.2900 41.3887 41.6681 510.2094 511.2974 514.6515 26-Dec-19 158.1248 158.6559 160.0141 107.4268 107.6958 108.4932 41.3280 41.4284 41.7145 510.8817 512.0155 515.3357 27-Dec-19 158.4706 159.0246 160.3266 107.8478 108.1157 108.8868 41.3143 41.4137 41.6925 511.0994 512.2103 515.3986 30-Dec-19 159.1117 159.5607 160.8817 108.2841 108.5546 109.3365 41.3000 41.3993 41.6779 511.0246 512.1385 515.4632 31-Dec-19 159.8674 160.3072 161.6206 108.4785 108.7427 109.5123 41.2784 41.3746 41.6489 510.8290 511.9089 515.0508 Source: Domestic Markets & Monetary Management Department, SBP Archive Link: http://www.sbp.org.pk/ecodata/rates/m2m/M2M-History.asp 131
  11. 6 .9 Secondary Market Transactions in Government Securities (Billion Rupees) SECURITIES / TRANSACTIONS 2018 2019 Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 1,208.1 965.5 1,355.5 1,148.0 1,015.3 1,077.9 841.8 750.8 1,142.8 1,271.8 982.7 1,495.5 1,737.4 9.1 45.1 30.3 15.3 17.6 33.2 4.1 27.5 0.6 10.2 20.4 19.0 1.4 outright 111.9 83.6 182.0 112.9 101.9 122.9 130.0 138.9 93.2 124.3 129.6 160.0 71.5 Repo 437.7 674.1 603.6 780.3 596.8 537.0 333.7 268.6 265.2 319.4 306.5 388.7 306.4 outright 252.2 154.6 243.4 215.6 285.3 284.0 202.8 190.1 310.4 398.0 280.2 369.5 391.7 Repo 397.2 8.1 296.3 23.8 13.6 100.9 171.2 125.7 473.4 419.9 246.1 558.2 966.4 1,208.1 965.5 1,355.5 1,148.0 1,015.3 1,077.9 841.8 750.8 1,142.8 1,271.8 982.7 1,495.5 1,737.4 61.5 24.0 96.1 153.8 102.0 112.4 129.2 73.1 54.3 56.0 110.6 143.7 65.1 outright 109.8 60.3 48.0 59.5 67.8 57.7 45.8 43.2 49.9 95.5 54.6 69.3 76.3 Repo 782.5 703.3 834.0 665.7 525.9 558.7 379.8 348.7 684.9 693.5 462.3 822.2 1,209.1 outright 254.3 177.9 377.4 269.0 319.5 349.2 287.0 285.7 353.7 426.8 355.2 460.3 386.8 - - - - - - - - - - - - - - - - - - - - - - - - - - 11,109.0 13,344.6 13,042.2 7,610.3 8,782.5 12,755.6 7,200.1 10,196.6 12,450.6 12,310.5 11,030.7 7,530.5 7,656.6 PIBs Purchases Repo Non Banks Banks/PDs SBP Sales Repo Non Banks Banks/PDs SBP Repo Net Position Treasury Bills Purchases Non Banks Banks/PDs SBP Repo 124.5 319.5 172.1 57.6 64.8 208.6 99.6 184.2 108.7 82.1 83.8 112.5 147.0 outright 379.2 890.2 838.9 345.7 687.0 885.6 340.1 561.2 1,036.5 892.2 814.0 492.0 442.8 Repo 4,794.2 10,659.6 7,188.2 5,869.9 5,958.0 7,936.7 2,496.7 3,891.5 2,294.6 2,129.6 3,329.6 3,286.0 2,961.3 outright 1,547.3 1,433.4 1,963.9 819.6 1,243.7 2,128.2 871.8 1,310.9 1,628.9 2,155.3 1,731.8 1,049.6 1,072.9 Repo 4,263.7 41.8 2,879.2 517.5 829.0 1,596.6 3,392.0 4,248.8 7,382.0 7,051.2 5,071.6 2,590.5 3,032.6 11,109.0 13,344.6 13,042.2 7,610.3 8,782.5 12,755.6 7,200.1 10,196.6 12,450.6 12,310.5 11,030.7 7,530.5 7,656.6 Sales Non Banks 32.8 8.1 9.7 9.9 11.6 10.6 12.2 31.0 46.5 154.2 263.1 239.9 133.9 512.3 441.4 652.6 409.9 467.5 513.0 446.7 257.8 499.0 927.4 588.2 279.2 393.5 Repo 6,830.2 1,942.3 5,019.3 3,064.6 3,474.6 3,838.5 5,766.8 7,540.9 9,738.7 9,072.7 7,194.2 5,719.3 5,976.4 outright 1,414.2 1,882.3 2,150.2 755.5 1,463.2 2,500.8 765.2 1,614.3 2,166.4 2,120.1 1,957.6 1,262.4 1,122.2 Repo 2,319.5 9,070.6 5,210.5 3,370.5 3,365.7 5,892.8 209.2 752.7 - 36.1 1,027.6 29.7 30.6 - - - - - - - - - - - - - Repo outright Banks/PDs SBP Net Position PDs: Primary Dealers Source: Domestic Markets & Monetary Management Department, SBP Note: Month-wise volume of repo/outright transactions during the month. 132