Pakistan: Open Market Operations Statistical Bulletin - January 2020

Transcription

1. 6 .1 Government of Pakistan Treasury Bills Million Rupees 2019 2020 Jun-19 Jun-20 Oct Nov Jul Aug Sep Oct Nov Issue 134,468 54,548 528,884 701,665 214,220 359,656 357,045 903,985 649,876 Discount Allowed 3,793 1,001 16,428 21,392 3,273 5,847 5,841 14,842 10,684 Discharged 25,520 400,012 2,797,870 1,307,399 544,337 121,071 42,928 181,779 359,656 Discount Paid 619 10,839 88,126 40,937 11,463 2,254 697 2,761 5,847 Outstanding Balance 4,927,527 675,896 2,030,570 1,424,836 345,779 584,364 898,481 1,620,687 1,910,907 Issue - 50,720 211,319 240,526 121,785 221,943 307,403 125,030 25,382 Discount Allowed - 1,947 13,988 15,848 4,069 7,917 10,990 4,481 911 Discharged 668 22,744 593 1,669 50,439 6,597 261,172 294,007 204,633 Discount Paid 34 1,506 33 106 3,327 438 15,272 13,375 7,979 Outstanding Balance 3,687 867,569 484,217 723,074 938,915 1,154,260 1,200,491 1,031,514 852,262 Issue 443 133,185 692,447 145,780 148,773 61,175 189,120 28,747 10,919 Discount Allowed 57 10,027 91,101 18,615 10,051 4,426 13,763 2,086 790 Discharged - 443 - - 144,852 614,280 683,423 692,447 145,780 Discount Paid - 57 - - 20,311 86,907 94,029 91,101 18,615 Outstanding Balance 443 4,133,139 2,135,444 2,281,224 4,137,061 3,583,957 3 Months Treasury Bills 6 Months Treasury Bills 12 Months Treasury Bills 3,089,654 2,425,954 2,291,093 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 ) 2016-17 PERIODS 2017-18 Bid Amount Bid Amount Offered Accepted July August 2018-19 2019-20 Bid Amount Offered Accepted 2020-21 Bid Amount Offered Accepted Bid Amount Offered Accepted Offered Accepted - - - - 1,330.5 1,272.5 310.8 308.8 - - 138.0 109.0 - - 894.3 894.3 - - 68.0 47.5 September - - 63.0 38.0 235.3 235.3 - - 88.0 88.0 179.7 95.5 113.8 105.0 2,478.3 2,225.7 935.1 824.1 57.4 57.4 November - - 91.5 84.5 6,659.7 6,630.6 - - 15.3 15.3 December 178.7 150.0 - - 2,319.5 2,319.5 - 11.2 October January - - 343.0 305.1 9,265.4 8,929.1 11.2 59.0 20.9 - - 5,226.9 5,200.8 - - March - - 786.8 641.5 3,359.3 3,354.3 38.5 35.0 April - - 165.9 123.3 3,257.3 3,163.8 598.1 392.3 February May - - 136.5 100.0 5,781.2 5,777.6 - - June 51.6 40.0 - - 111.0 105.0 - - 50.6 34.6 141.7 116.4 3,409.9 3,342.4 172.1 142.8 57.2 41.6 1.7 1.2 4.7 3.9 113.7 111.4 5.7 4.8 1.9 1.4 Average per month per day PURCHASE 2016-17 PERIODS Amount 2017-18 2018-19 Amount 2019-20 Amount Amount 2020-21 Amount Offered Injected Offered Injected Offered Injected Offered Injected Offered Injected July 6,965.6 6,655.1 6,181.3 5,797.7 3,608.3 2,906.8 4,687.7 4,374.4 4,337.1 4,062.4 August 3,951.0 3,873.5 6,066.4 5,940.3 8,370.5 8,249.2 8,269.7 7,999.3 5,966.4 5,802.4 September 6,206.9 5,870.9 7,881.6 7,733.5 1,959.3 1,670.0 7,450.5 7,317.3 4,009.5 3,938.6 October 4,024.4 3,960.4 6,245.0 5,968.4 99.5 71.0 5,288.7 5,241.3 3,513.1 3,312.3 November 3,242.3 3,096.9 6,454.0 6,252.5 - - 3,423.6 3,123.3 3,947.7 3,895.7 December 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 4,099.7 3,878.5 4,612.4 4,390.3 - - 4,528.5 4,345.5 February 4,127.9 3,953.7 5,946.7 5,522.7 3,257.4 3,066.0 3,769.0 3,508.9 March 5,537.5 5,373.8 4,140.8 3,906.9 563.7 484.0 5,049.1 5,023.6 April 5,270.7 5,195.4 3,523.0 3,105.1 548.5 442.0 5,087.5 5,042.0 May 5,374.6 5,278.7 3,198.2 2,741.0 1,535.2 1,464.4 5,568.1 5,458.1 June 7,385.0 7,049.8 7,129.4 6,586.2 3,977.5 3,399.7 5,508.8 5,264.1 5,061.4 4,868.4 5,860.2 5,544.6 2,540.8 2,275.7 5,235.6 5,054.3 4,354.7 4,202.3 168.7 162.3 195.3 184.8 84.7 75.9 174.5 168.5 145.2 140.1 Average per month per day Source: Domestic Markets & Monetary Management Department, SBP 123
3. 6 .3 SBP Overnight Repo/ Reverse Repo Facilities Cash Accommodation 2016-17 2017-18 2018-19 (Million Rupees) 2020-21 2019-20 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 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 77,750 47,300 50,900 56,700 114,850 89,900 355,750 93,400 214,450 29,700 30,600 51,100 30,000 70,500 107,300 205,500 32,900 154,700 25,300 20,500 11,000 77,500 169,250 34,500 58,900 Average per month per day 77,971 2,599 30,446 1,015 69,908 2,330 14,958 499 204,990 6,833 69,429 2,314 86,358 2,879 99,025 3,301 48,880 1,629 85,038 2,835 SBP Overnight Repo/ Reverse Repo Rates 2016-17 PERIODS July August September October November December January February March April May June 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) 4.25 4.25 4.25 4.25 4.25 4.25 4.25 4.25 4.25 4.25 4.25 4.25 SBP Reverse Repo Rate1 (Ceiling) 6.25 6.25 6.25 6.25 6.25 6.25 6.50 6.50 6.50 6.50 7.00 7.00 2018-19 SBP Repo Rate2 (Floor) SBP Reverse Repo Rate1 (Ceiling) 4.25 4.25 4.25 4.25 4.25 4.25 4.50 4.50 4.50 4.50 5.00 5.00 8.00 8.00 8.00 9.00 9.00 10.50 10.50 10.75 10.75 11.25 12.75 12.75 (Percent per annum) 2020-21 2019-20 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 13.75 13.75 12.00 10.00 9.00 8.00 SBP Repo Rate2 (Floor) 11.75 11.75 11.75 11.75 11.75 11.75 11.75 11.75 10.00 8.00 7.00 6.00 SBP Reverse Repo Rate1 (Ceiling) SBP Repo Rate2 (Floor) 8.00 8.00 8.00 8.00 8.00 6.00 6.00 6.00 6.00 6.00 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 SETTLEMENT DATE 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 () () () () () 2019 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 2020 02-Jan-20 16-Jan-20 30-Jan-20 650,761 739,589 978,493 394,541 214,553 500,866 13.4851 13.4694 13.4296 13.4462 22,363 13.4438 149,572 13.3885 65,916 6,527 13.2899 23,822 13.2890 23,416 13.2890 13.2875 232,997 13.2051 276,131 13.2351 182,792 90,947 13.1340 88,729 13.1340 109,292 13.1340 13.1068 13.0795 13.1158 13-Feb-20 27-Feb-20 794,533 307,164 158,357 187,605 13.4149 13.3899 13.4022 131,487 13.3811 5,748 3,287 13.2999 3,748 13.3401 13.2999 153,620 13.3401 1,129,896 131,520 13.5199 258,905 13.3300 13.3950 13.2898 12-Mar-20 26-Mar-20 483,840 350,730 155,683 255,168 12.7288 11.2985 12.6887 369,046 11.2174 218,321 115,622 12.5050 160,821 11.2989 12.4788 833,222 11.1895 811,419 105,454 12.0000 169,477 10.8699 11.9786 10.6706 09-Apr-20 23-Apr-20 519,651 487,233 208,731 195,850 10.8995 8.3996 10.8049 605,554 8.2140 438,276 161,455 10.3000 145,926 7.9997 10.2570 876,379 7.8829 594,246 176,145 9.6490 162,588 7.4750 9.5674 7.3216 07-May-20 21-May-20 287,470 375,462 151,220 78,450 8.3879 8.1496 8.0931 244,376 8.1207 274,862 157,876 54,736 7.9997 7.8050 7.8447 169,276 7.7465 510,466 109,276 7.7500 92,075 7.7499 7.4292 7.6795 04-Jun-20 18-Jun-20 285,925 167,250 44,875 10,673 8.1298 7.7999 8.0377 153,504 7.6897 208,148 34,504 18,163 7.9757 7.4847 7.8170 390,256 7.4786 203,263 93,152 7.7101 50,060 7.3600 7.6898 7.2892 02-Jul-20 16-Jul-20 30-Jul-20 290,673 183,140 256,431 32,952 112,502 72,039 6.8488 6.5598 6.9501 6.8488 161,923 6.4267 163,931 6.8734 184,554 4,768 68,881 52,204 6.6599 6.5700 7.0995 6.6599 155,925 6.4666 150,010 7.0134 222,463 16,150 6.8500 87,210 6.6001 55,463 7.1400 6.8500 6.5475 7.1054 13-Aug-20 27-Aug-20 326,400 379,048 91,956 273,548 6.9900 7.1498 6.9833 203,654 7.0916 364,556 20,654 209,206 7.1800 7.1800 7.1449 152,748 7.1551 281,054 548 7.1500 65,054 7.3000 7.1500 7.2562 10-Sep-20 24-Sep-20 502,405 530,899 209,087 153,799 7.1399 7.1292 7.1161 238,932 7.0983 244,536 121,432 196,961 7.1800 7.1800 7.1724 126,594 7.1686 188,789 33,094 7.3000 169,789 7.3090 7.2944 7.2977 08-Oct-20 22-Oct-20 599,261 581,384 544,611 374,216 7.1898 7.1750 7.1178 150,827 7.1580 34,684 109,827 19,684 7.2189 7.2000 7.1854 7.2000 67,333 658 30,833 7.2990 * * 7.2753 * 05-Nov-20 19-Nov-20 618,863 543,471 309,060 351,501 7.1597 7.1525 7.1477 7.1402 23,165 3,128 7.2000 7.1998 7.1997 7.1959 20,257 9,452 2,257 7.2900 9,452 7.2498 7.2900 7.2498 50,165 7,128 Source: Domestic Markets & Monetary Management Department, SBP * = Bids Rejected **= No Bids Received 125
5. 6 .5 Auction of Pakistan Investment Bonds (PIBs) Fixed Rate (Face Value) Auction Settlement Date Tenure Coupon Rate () Amount Offered Amount Accepted Price Accepted = Rs.100 Cut-off Yield Accepted () (Million Rupees) Weighted Average Yield Accepted () 5-Mar-20 3-Years 5-Years 10-Years 20-Years 9.00 9.50 10.00 11.00 243,735.40 105,675.00 74,491.50 1,000.00 49,714.50 41,455.50 39,581.50 1,000.00 94.4350 94.7760 95.0160 93.9315 11.5888 10.9900 10.8500 11.7999 11.5351 10.9350 10.7519 11.7999 16-Apr-20 3-Years 5-Years 10-Years 15-Years 20-Years 9.00 9.50 10.00 10.50 11.00 243,745.00 63,762.50 21,840.80 13,275.00 6,275.00 46,717.30 36,442.20 14,329.20 10,275.00 5,012.80 100.9330 102.3973 106.2502 100.0748 102.4152 8.5600 8.8300 9.0000 10.4900 10.7000 8.5315 8.7085 8.9725 10.4540 10.7000 29-May-20 3-Years 9.00 142,350.00 82,690.90 102.8076 7.6400 7.5239 5-Years 10-Years 15-Years 20-Years 9.50 10.00 10.50 11.00 63,900.00 29,500.00 3,500.00 1,000.00 59,546.50 27,087.50 2,525.00 - 105.1685 108.2196 104.0444 - 8.0500 8.6900 9.9699 - 7.8740 8.4767 9.6640 - 26-Jun-20 3-Years 5-Years 10-Years 15-Years 20-Years 9.00 9.50 10.00 10.50 11.00 118,657.00 33,101.00 18,594.00 6,100.00 100.00 72,685.00 21,961.70 16,197.50 4,000.00 100.00 102.0482 103.6844 106.2194 104.5817 103.9771 7.9700 8.4400 8.9900 9.9000 10.5100 7.8223 8.3542 8.8710 9.8675 10.5100 22-Jul-20 3-Years 5-Years 10-Years 15-Years 20-Years 9.00 9.50 10.00 10.50 11.00 128,500.00 84,451.00 36,028.00 10,000.00 5,000.00 98,188.00 57,741.00 29,943.00 10,000.00 5,000.00 103.1834 103.8810 106.1905 105.7695 104.9119 7.3700 8.3700 8.9900 9.7500 10.4000 7.2359 8.2139 8.8570 9.7020 10.3400 20-Aug-20 3-Years 5-Years 10-Years 15-Years 20-Years 7.00 9.50 10.00 10.50 11.00 41,215.00 33,688.00 11,205.00 12,000.00 10,000.00 22,461.60 334.00 55.00 12,000.00 10,000.00 96.8649 103.5486 106.1645 103.9327 103.6463 8.2000 8.4500 8.9900 9.9800 10.5500 8.1911 8.4473 8.9445 9.9125 10.4270 17-Sep-20 3-Years 5-Years 10-Years 15-Years 20-Years 7.00 9.50 10.00 10.50 11.00 28,715.00 24,783.50 13,299.00 5,000.00 5,000.00 2,330.00 112.50 2.00 1,000.00 96.9264 103.5050 106.1445 103.6612 8.2000 8.4500 8.9900 10.5498 8.2000 8.4488 8.9900 10.5498 15-Oct-20 3-Years 5-Years 10-Years 15-Years 20-Years 7.00 7.50 10.00 10.50 11.00 6,700.00 12,500.00 17,600.00 12,000.00 9,000.00 50.00 * * 8,000.00 5,000.00 96.8936 * * 103.7849 103.6405 8.2400 * * 10.0000 10.5498 8.2400 * * 9.9900 10.5498 12-Nov-20 3-Years 5-Years 10-Years 15-Years 20-Years 7.00 7.50 10.00 10.50 11.00 9,150.00 19,250.00 20,050.00 4,000.00 9,561.00 2,490.00 * * 4,000.00 9,561.00 96.9647 * * 103.9158 103.6235 8.2400 * * 9.9800 10.5498 8.2400 * * 9.9800 10.5206 *= Bid Rejected Source: Domestic Markets & Monetary Management Department, SBP 126
6. 6 .6 Auction of Pakistan Investment Bonds (PIBs) (Million Rupees) Floating Rate Semi-Annual (Face Value) Auction Settlement Date Tenure Amount Offered1 Amount Accepted2 Floating Rate Quarterly (Face Value) Cutoff Margin3 (bps) Cutoff Price4 (bps) Amount Offered1 Amount Accepted2 Cutoff Margin3 (bps) 18-Jun-20 3-Years 5-Years 10-Years 84,100.00 48,500.00 31,500.00 60,552.00 34,500.00 29,500.00 45 49 70 2-Jul-20 03- Year 05- Year 10- Year 179,215.00 35,000.00 57,000.00 50,758.60 25,075.00 18,000.00 100.2074 100.0341 100.1264 16-Jul-20 03- Year 05- Year 10- Year 233,000.00 190,450.00 96,025.00 150,031.80 76,710.20 46,073.50 100.3736 100.3877 100.6525 30-Jul-20 03- Year 05- Year 10- Year 219,021.80 93,000.00 63,800.00 61,555.10 58,000.00 10,700.20 100.4413 100.4611 101.0536 13-Aug-20 03- Year 05- Year 10- Year 116,175.00 60,750.00 45,000.00 54,079.00 11,000.00 * 100.3827 100.4546 * 27-Aug-20 03- Year 05- Year 10- Year 128,586.80 49,300.00 39,599.00 77,155.60 5,355.50 5,028.50 100.3511 100.4496 101.0430 10-Sep-20 03- Year 05- Year 10- Year 101,930.00 40,020.00 30,000.00 64,088.10 13,120.00 5,000.00 100.3455 100.4845 101.0392 23-Sep-20 03- Year 05- Year 10- Year 129,800.00 39,500.00 23,200.00 102,917.90 29,000.00 7,000.00 100.3409 100.3456 101.0365 8-Oct-20 03- Year 05- Year 10- Year 80,073.50 27,000.00 24,000.00 61,176.60 18,000.00 16,000.00 22-Oct-20 03- Year 05- Year 10- Year 2,000.00 ** ** * ** ** 100.3372 100.3825 101.0347 * * ** ** 120,922.00 17,500.00 17,050.00 79,880.80 17,500.00 17,000.00 99.1997 97.9779 95.2412 5-Nov-20 03- Year 05- Year 10- Year ** ** 2,500.00 ** ** * ** ** * 42,125.00 43,100.00 42,000.00 38,815.00 36,100.00 40,500.00 99.2067 97.9884 95.2510 19-Nov-20 03- Year 05- Year 10- Year 500.00 ** 3,000.00 * ** * * ** * 20,950.00 35,000.00 33,500.00 7,583.00 30,900.00 25,500.00 99.2144 97.9997 95.2616 *= Bid Rejected **= No Bids Received 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. 4-This cut-off Price will be applicable to all accepted bids. 127
7. 6 .7 KIBOR (Percent per annum) PERIODS 1 Week Bid 2019 Oct Month Average Offer 2 Weeks Bid 1Month 3 Months 6 Months 9 Months Offer Bid Offer Bid Offer Bid Offer Bid Offer 12 Months Bid Offer 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 Nov 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 Dec 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 2020 Jan Month Average 13.06 13.56 13.10 13.60 13.14 13.64 13.28 13.53 13.23 13.48 13.08 13.58 13.00 13.50 End-Month 13.05 13.55 13.10 13.60 13.12 13.62 13.24 13.49 13.19 13.44 13.08 13.58 12.99 13.49 Feb Month Average 13.06 13.56 13.10 13.60 13.14 13.64 13.27 13.52 13.24 13.49 13.15 13.65 13.13 13.63 End-Month 13.06 13.56 13.10 13.60 13.14 13.64 13.21 13.46 13.20 13.45 13.13 13.63 13.06 13.56 Mar Month Average 12.35 12.85 12.32 12.82 12.25 12.75 12.20 12.45 12.09 12.34 11.82 12.32 11.69 12.19 End-Month 10.86 11.36 10.90 11.40 10.92 11.42 10.97 11.22 10.91 11.16 10.57 11.07 10.41 10.91 Apr Month Average 9.96 10.46 9.96 10.46 9.89 10.39 9.59 9.84 9.24 9.49 8.90 9.40 8.73 9.23 End-Month 8.78 9.28 8.72 9.22 8.59 9.09 7.92 8.17 7.44 7.69 7.14 7.64 6.99 7.49 May Month Average 8.43 8.93 8.37 8.87 8.23 8.73 7.96 8.21 7.73 7.98 7.48 7.98 7.40 7.90 End-Month 7.88 8.38 7.89 8.39 7.86 8.36 7.90 8.15 7.63 7.88 7.51 8.01 7.47 7.97 Jun Month Average 7.77 8.27 7.76 8.26 7.71 8.21 7.71 7.96 7.52 7.77 7.35 7.85 7.30 7.80 End-Month 6.95 7.45 6.95 7.45 6.94 7.44 7.01 7.26 6.99 7.24 6.89 7.39 6.85 7.35 Month Average 6.85 7.35 6.83 7.33 6.72 7.22 6.57 6.82 6.54 6.79 6.50 7.00 6.49 6.99 End-Month 6.88 7.38 6.87 7.37 6.82 7.32 6.82 7.07 6.84 7.09 6.80 7.30 6.80 7.30 Aug Month Average 6.86 7.36 6.86 7.36 6.86 7.36 6.91 7.16 6.95 7.20 6.96 7.46 6.97 7.47 End-Month 6.89 7.39 6.90 7.40 6.90 7.40 6.96 7.21 7.00 7.25 7.01 7.51 7.01 7.51 Sep Month Average 6.84 7.34 6.87 7.37 6.91 7.41 7.00 7.25 7.04 7.29 7.06 7.56 7.07 7.57 End-Month 6.88 7.38 6.89 7.39 6.92 7.42 7.00 7.25 7.05 7.30 7.08 7.58 7.08 7.58 Oct Month Average 6.83 7.33 6.87 7.37 6.91 7.41 7.04 7.29 7.09 7.34 7.12 7.62 7.15 7.65 End-Month 6.89 7.39 6.91 7.41 6.91 7.41 7.04 7.29 7.10 7.35 7.14 7.64 7.18 7.68 Nov Month Average 6.85 7.35 6.88 7.38 6.91 7.41 7.05 7.30 7.10 7.35 7.15 7.65 7.19 7.69 End-Month 6.85 7.35 6.89 7.39 6.92 7.42 7.05 7.30 7.10 7.35 7.14 7.64 7.19 7.69 Jul KIBOR :Karachi Interbank Offered Rate Source: Reuters Archive Link: http://www.sbp.org.pk/ecodata/kibor_index.asp 128
8. 6 .8 Inter-Bank Weighted Average Call Rates ( Per Annum) PERIODS 2019 2020 Overnight 1 Week 2 Weeks 1 Month 3 Months 6 Months 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 Jan 12.65 10.46 12.81 12.30 12.65 12.50 Feb 12.67 12.31 10.93 12.67 12.70 12.74 Mar 10.20 8.99 10.77 10.88 10.81 11.95 Apr 9.13 8.23 8.64 8.25 9.38 - May 8.28 7.96 7.47 8.12 7.50 - Jun 7.97 7.76 8.07 7.63 - 7.15 Jul 6.70 6.38 6.07 6.33 6.37 6.30 Aug 6.81 6.69 6.83 - 6.86 6.75 Sep 6.81 6.69 6.83 - 6.86 6.75 Oct 6.93 6.34 6.91 0.00 6.62 - Nov 7.34 7.10 - - - - Source: Domestic Markets & Monetary Management Department, SBP Note: Weighted Average Call Rates of all the call deals executed during the month. 129
9. 6 .9 SBP Mark to Market Rates Major Currencies US Dollar Euro Japanese Yen UK Pound Sterling Date Ready 1Week 1 Month Ready 1Week 1 Month 2-Nov-20 160.1094 160.3451 161.1547 186.1432 186.4510 187.4854 1.5257 1.5281 1.5363 205.9968 206.3109 207.3823 3-Nov-20 159.9693 160.2009 160.9852 186.9481 187.2509 188.2750 1.5296 1.5319 1.5399 207.3842 207.6957 208.7483 4-Nov-20 159.8124 160.0622 160.7904 186.9006 187.2241 188.1759 1.5231 1.5256 1.5330 206.9411 207.2756 208.2502 5-Nov-20 159.4617 159.6885 160.5069 187.4711 187.7653 188.8194 1.5284 1.5307 1.5389 207.5872 207.8902 208.9807 6-Nov-20 159.0939 159.3096 160.1104 188.4467 188.7300 189.7719 1.5381 1.5403 1.5484 209.0016 209.2923 210.3706 9-Nov-20 158.9116 159.1198 159.8456 188.7075 188.9834 189.9478 1.5349 1.5371 1.5445 209.0323 209.3141 210.2971 10-Nov-20 158.6936 158.9094 159.6387 187.9091 188.1945 189.1613 1.5104 1.5126 1.5200 209.6581 209.9539 210.9490 11-Nov-20 158.4881 158.7049 159.4798 186.9287 187.2137 188.2266 1.5025 1.5046 1.5124 210.5038 210.8020 211.8597 12-Nov-20 158.3326 158.5438 159.3047 186.6663 186.9442 187.9357 1.5031 1.5052 1.5128 208.9753 209.2630 210.2941 13-Nov-20 158.1633 158.3781 159.1205 186.8699 187.1524 188.1236 1.5046 1.5068 1.5142 208.1034 208.3948 209.3977 16-Nov-20 158.1691 158.4013 159.1588 187.6914 187.9959 188.9902 1.5148 1.5172 1.5248 209.1944 209.5101 210.5388 17-Nov-20 158.3053 158.5433 159.3204 187.8134 188.1280 189.1475 1.5165 1.5189 1.5267 209.1767 209.4992 210.5523 18-Nov-20 159.8338 160.0806 160.8829 189.9065 190.2265 191.2776 1.5375 1.5400 1.5481 212.3312 212.6652 213.7571 19-Nov-20 160.6187 160.9014 161.7386 190.1082 190.4698 191.5540 1.5452 1.5481 1.5565 212.1451 212.5244 213.6551 20-Nov-20 160.7287 160.9766 161.8053 190.7930 191.1156 192.1929 1.5484 1.5509 1.5593 213.2147 213.5499 214.6736 23-Nov-20 161.0476 161.2962 162.0859 191.0910 191.4158 192.4611 1.5518 1.5543 1.5624 214.9663 215.3056 216.3915 24-Nov-20 160.0893 160.3304 161.0920 190.0420 190.3581 191.3621 1.5347 1.5371 1.5448 214.0074 214.3375 215.3863 25-Nov-20 159.2750 159.5170 160.3823 189.8240 190.1405 191.2707 1.5254 1.5278 1.5365 212.8392 213.1699 214.3554 26-Nov-20 159.2658 159.5084 160.3144 189.8927 190.2109 191.2737 1.5269 1.5294 1.5375 212.8110 213.1429 214.2508 27-Nov-20 159.4639 159.7038 160.5111 190.2005 190.5151 191.6567 1.5329 1.5353 1.5442 213.2191 213.5470 214.7312 30-Nov-20 159.4226 159.6678 160.4800 190.9724 191.2954 192.4534 1.5305 1.5330 1.5419 212.7495 213.0847 214.2836 130 Ready 1Week 1 Month Ready 1Week 1 Month
10. 6 .9 SBP Mark to Market Rates Major Currencies Swiss Frank Date Ready 1Week 2-Nov-20 174.3162 174.6142 3-Nov-20 174.4866 4-Nov-20 Australian Dollar 1 Month Ready 1Week Saudi Arabian Riyal 1 Month 1 Month Kuwaiti Dinar Ready 1Week Ready 1Week 1 Month 175.6093 112.0045 112.1736 112.7527 42.6924 42.7527 42.9609 522.7726 523.4460 525.8022 174.7776 175.7643 113.4822 113.6511 114.2243 42.6551 42.7143 42.9168 522.5193 523.1853 525.4535 174.9643 175.2760 176.1973 113.3709 113.5527 114.0852 42.6121 42.6761 42.8660 521.8538 522.5828 524.6815 5-Nov-20 175.2712 175.5538 176.5665 114.7965 114.9641 115.5672 42.5174 42.5754 42.7904 521.2191 521.8749 524.2923 6-Nov-20 176.3009 176.5741 177.5772 115.6533 115.8149 116.4120 42.4194 42.4743 42.6847 520.7488 521.3691 523.7328 9-Nov-20 176.4802 176.7467 177.6790 115.6797 115.8366 116.3835 42.3708 42.4237 42.6153 519.9646 520.5570 522.6174 10-Nov-20 173.8727 174.1457 175.0714 115.6083 115.7710 116.3222 42.3127 42.3689 42.5612 518.7083 519.3293 521.3732 11-Nov-20 172.8615 173.1330 174.0983 115.6012 115.7649 116.3491 42.2578 42.3144 42.5189 517.9687 518.5872 520.7908 12-Nov-20 172.9561 173.2215 174.1681 115.0366 115.1955 115.7663 42.2164 42.2722 42.4722 517.5792 518.1897 520.3378 13-Nov-20 172.8844 173.1542 174.0804 114.4549 114.6159 115.1720 42.1696 42.2254 42.4208 516.9160 517.5317 519.6303 16-Nov-20 173.8313 174.1219 175.0702 115.5346 115.7097 116.2814 42.1728 42.2342 42.4333 517.3154 517.9899 520.1395 17-Nov-20 173.5994 173.8989 174.8702 115.7529 115.9326 116.5200 42.2091 42.2721 42.4764 517.5071 518.2048 520.4738 18-Nov-20 175.4487 175.7526 176.7517 116.9743 117.1602 117.7657 42.6178 42.6819 42.8941 522.5208 523.2546 525.6391 19-Nov-20 176.0590 176.4022 177.4347 116.8983 117.1095 117.7371 42.8271 42.9008 43.1223 525.1725 526.0226 528.4965 20-Nov-20 176.5571 176.8636 177.8878 117.2114 117.3978 118.0209 42.8559 42.9208 43.1395 525.8935 526.6257 529.0687 23-Nov-20 176.8587 177.1674 178.1669 117.9754 118.1635 118.7639 42.9414 43.0060 43.2148 526.6266 527.3555 529.6456 24-Nov-20 175.8064 176.1071 177.0666 117.7777 117.9608 118.5479 42.6859 42.7485 42.9499 523.2194 523.9246 526.1326 25-Nov-20 174.7778 175.0778 176.1481 117.1149 117.2980 117.9537 42.4688 42.5316 42.7595 521.3587 522.0736 524.6047 26-Nov-20 175.3643 175.6672 176.6787 117.2356 117.4192 118.0319 42.4664 42.5288 42.7402 521.1070 521.8236 524.1650 27-Nov-20 175.8631 176.1631 177.2582 117.6923 117.8744 118.4992 42.5175 42.5792 42.7921 521.6696 522.3731 524.6995 30-Nov-20 176.7043 177.0124 178.1254 117.7496 117.9371 118.5690 42.5082 42.5713 42.7844 521.7054 522.4260 524.7988 Source: Domestic Markets & Monetary Management Department, SBP Archive Link: http://www.sbp.org.pk/ecodata/rates/m2m/M2M-History.asp 131
11. 6 .10 Secondary Market Transactions in Government Securities (Billion Rupees) SECURITIES / TRANSACTIONS 2019 2020 Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov 1,495.5 1,737.4 1,468.3 1,700.4 2,364.3 2,511.3 2,342.0 2,761.6 2,701.1 3,789.2 3,390.0 2,824.9 4,321.2 19.0 1.4 12.3 10.3 14.8 7.2 15.4 33.6 37.7 21.7 7.8 7.7 15.6 outright 160.0 71.5 157.0 304.7 144.6 73.0 59.8 98.5 335.7 396.7 396.2 613.1 631.4 Repo 388.7 306.4 366.9 312.3 298.3 316.4 389.8 357.1 421.4 461.5 421.3 417.1 381.1 outright 369.5 391.7 325.7 531.9 661.3 490.5 266.1 444.1 686.0 761.7 987.5 1,010.7 873.6 Repo 558.2 966.4 606.4 541.1 1,245.3 1,624.2 1,610.9 1,828.3 1,220.3 2,147.6 1,577.2 776.3 2,419.5 1,495.5 1,737.4 1,468.3 1,700.4 2,364.3 2,511.3 2,342.0 2,761.6 2,701.1 3,789.2 3,390.0 2,824.9 4,321.2 143.7 65.1 107.0 78.7 61.6 127.8 148.4 120.6 122.9 110.2 170.9 139.1 157.1 PIBs Purchases Repo Non-Banks Banks/PDs SBP Sales Repo Non-Banks 69.3 76.3 69.6 251.7 163.2 184.7 35.5 96.7 210.2 377.9 375.9 562.9 640.0 Repo 822.2 1,209.1 878.5 785.0 1,496.9 1,820.0 1,867.6 2,098.3 1,556.5 2,520.6 1,835.3 1,062.0 2,659.1 outright 460.3 386.8 413.2 584.9 642.7 378.8 290.4 445.8 811.5 780.5 1,007.8 1,060.9 865.0 - - - - - - - - - - - - - - - - - - - - - - - - - - 7,530.5 7,656.6 9,267.6 7,177.5 9,323.8 8,644.6 7,393.2 7,407.4 7,427.3 7,512.4 6,479.8 4,590.6 5,204.4 112.5 147.0 67.9 138.3 157.0 48.1 36.7 89.0 109.9 59.5 68.9 109.1 110.4 outright Banks/PDs SBP Repo Net Position Treasury Bills Purchases Non-Banks Repo 492.0 442.8 1,030.0 532.9 526.9 647.3 389.8 347.2 829.6 611.3 593.4 698.4 753.6 Repo 3,286.0 2,961.3 3,100.8 2,523.4 2,652.1 2,703.7 2,170.7 2,550.2 2,589.0 2,067.8 1,907.6 2,062.5 1,870.9 outright 1,049.6 1,072.9 1,252.0 968.0 2,250.6 1,770.9 1,256.8 895.4 1,023.6 880.4 1,523.2 859.0 982.3 Repo 2,590.5 3,032.6 3,816.9 3,015.1 3,737.2 3,474.5 3,539.2 3,525.7 2,875.0 3,893.5 2,386.6 861.6 1,487.2 7,530.5 7,656.6 9,267.6 7,177.5 9,323.8 8,644.6 7,393.2 7,407.4 7,427.3 7,512.4 6,479.8 4,590.6 5,204.4 239.9 133.9 222.1 192.4 147.3 94.1 66.5 97.3 98.3 52.9 77.8 61.3 53.7 279.2 393.5 351.2 314.5 770.8 433.2 317.3 418.4 496.6 437.4 607.3 339.3 580.1 Repo 5,719.3 5,976.4 6,701.3 5,484.2 6,369.0 5,669.5 5,572.9 5,862.0 5,475.7 5,967.8 4,285.3 2,971.9 3,414.8 outright 1,262.4 1,122.2 1,930.7 1,186.3 2,006.7 1,985.1 1,329.3 824.2 1,356.7 1,054.3 1,509.3 1,218.1 1,155.8 29.7 30.6 62.3 - 30.0 462.8 107.3 205.5 - - - - - - - - - - - - - - - - - - outright Banks/PDs SBP Sales Non-Banks Repo outright Banks/PDs SBP Repo Net Position PDs: Primary Dealers Source: Domestic Markets & Monetary Management Department, SBP Note: Month-wise volume of repo/outright transactions during the month. 132