The SBP accepted Rs4.247 billion for three months maturity at a cut-off yield of 5.812 per cent a decline of 35 basis-points compared to the last auction held on January 23, 2002.
For six-month maturity the SBP picked up the highest amount of Rs14.783 billion at a return of 6.48 per cent recording a decline of only one basis-point. However, the one-year maturity shows some improvement with 11 basis points. SBP realized an amount of Rs5.746 billion at a return of 7.0054 per cent, in the last auction of 12 months maturity; the cut-off yield was 6.89 per cent.
According to the Statement of Affairs of the State Bank of Pakistan, for the week ended January 26, 2002, both notes in circulation and those issued fell. Notes in circulation stood at Rs452,558.702 million against preceding week’s Rs458,082.230 million, showing a fall of Rs5,523.528 million. When compared to the corresponding week a year ago when it was Rs402,558.670 million, the current week’s figure is higher by Rs50,000.032 million.
Total notes issued continued to show a fall in the current week. At Rs452,768.932 million it was smaller by Rs5,503.330 million over a week earlier figure of Rs458,272.262 million. In the corresponding week last year it amounted to Rs402,705.491 million, which shows current week’s figure to be higher by Rs50,063.441 million over last year’s figure.
Approved foreign exchange rose in the week under review. It stood at Rs149,866.874 million, showing an increase of Rs7,590.518 million over previous week’s Rs142,276.356 million. When compared to last year’s corresponding figure of Rs45,625.557 million, the current week’s figure is substantially higher by Rs104,241.317 million.
Balances held outside Pakistan in approved foreign exchange, continued to fall in the week under review. It stood at Rs64,344.195 million over preceding week’s figure of Rs70,374.506 million, showing a fall of Rs6,030.311 million. Compared to last year’s corresponding figure of Rs19,873.427 million, the current week’s figure is larger by Rs44,470.768 million.
Loans and advances of scheduled banks to the three sectors, agricultural, industrial and export show a mixed picture in the week under review. The agricultural sector received Rs55,006.618 million, against preceding week’s figure of Rs53,728.618 million showing an increase of Rs1,278.500 million. The current weeks figure is smaller by Rs155.645 million over last year’s corresponding figure of Rs54,850.973 million.
There was an inflow of Rs3,719.709 million in the industrial sector during the week under review, depicting a decline of Rs17.794 million previous week’s Rs3,737.503 million. Compared to last year’s corresponding figure of Rs4,584.333 million, the current week’s figure is lower by Rs864.624 million.
The export sector received Rs52,720.890 million over previous week’s figure of Rs52,024.622 million, showing a rise of Rs696.268 million. Current week’s figure was lower by Rs24,995.983 million over last year’s corresponding figure of Rs77,716.873 million.