Most of the investment was in short term paper. The SBP bought 3-month T-bills for Rs66.337 billion while the rest was invested in 6-month T-bills. No bid was received for 12-month paper.

According to the Statement of Affairs of the State Bank of Pakistan, for the week ended December 6, 2008, both notes in circulation and those issued increased in the week. Notes in circulation stood at Rs1,241.154 billion against earlier week’s figure of Rs1,188.079 billion, a rise of Rs53.075 billion. When compared to the corresponding week a year ago when it was Rs1,024.739 billion, the current week’s figure is higher by Rs216.415 billion.

Total notes issued also increased in the current week over preceding week’s level. At Rs1,241.307 billion it was higher by Rs53.09 billion over the figure of Rs1,188.217 billion recorded a week earlier. In the corresponding week last year it amounted to Rs1,024.936 billion, which shows current week’s figure to be higher by Rs216.371 billion over last year’s corresponding figure.

Approved foreign exchange increased in the week to Rs234.426 billion or by Rs33.956 billion over preceding week’s figure of Rs200.447 billion. When compared to the corresponding week a year ago, when the figure was Rs618.161 billion, the current week’s figure is lower by Rs446.735 billion.

Balances held outside Pakistan in approved foreign exchange decreased in the week under review. It stood at Rs274.288 billion over preceding week’s figure of Rs310.480 billion, a fall of Rs36.192 billion. Compared to last year’s corresponding figure of Rs150.895 billion, the current week’s figure is larger by Rs123.393 billion.

Loans and advances of scheduled banks to the three sectors – agricultural, industrial and export showed a mixed trend in the week under review. The agricultural sector received Rs57.777 billion, similar to preceding week’s figure. The current week’s figure is smaller by Rs0.078 billion over last year’s corresponding figure of Rs57.855 billion.

There was an inflow of Rs36.473 billion to the industrial sector during the week under review, a fall of Rs0.034 billion against preceding week’s figure of Rs36.507 billion. When compared to last year’s corresponding figure of Rs40.504 billion, the current week’s figure is smaller by Rs4.031 billion.

The export sector received Rs153.084 billion against previous week’s figure of Rs134.282 billion, larger by Rs18.802 billion. Current week’s figure was larger by Rs53.594 billion over last year’s corresponding figure of Rs99.490 billion.

According to the weekly statement of position of all scheduled banks for the week ended December 13, 2008, deposits and other accounts of the scheduled banks rose in the current week and stood at Rs3,761.292 billion, higher by Rs29.977 billion over preceding week’s figure of Rs3,731.315 billion. Compared with last year’s corresponding figure of Rs3,531.493 billion, the current week’s figure is larger by Rs229.799 billion. During the current week commercial banks deposits showed an increase of Rs30.43 billion over the week to Rs3,750.303 billion, against preceding week’s Rs3,719.873 billion. Specialized banks deposits stood at Rs10.989 billion, against preceding week’s Rs11.442 billion, a fall of Rs0.453 billion.

Borrowings by all scheduled banks decreased in the week. It fell to Rs425.654 billion over preceding week’s figure of Rs441.759 billion, a fall of Rs16.105 billion. Compared to last year’s corresponding figure of Rs462.246 billion, current week’s figure is smaller by Rs36.592 billion. Commercial banks borrowings fell to Rs344.480 billion against previous week’s Rs360.585 billion, or by Rs16.105 billion. Borrowings by specialised banks stood at Rs81.174 billion similar to preceding week’s figure.

Gross advances stood at Rs3,119.153 billion in the week under review, a rise of Rs1.23 billion over preceding week’s figure of Rs3,117.923 billion. Compared to last year’s corresponding figure of Rs2,605.974 billion, current week’s figure is larger by Rs513.179 billion. In the week under review, advances by commercial banks rose to Rs3,018.848 billion against earlier week’s figure of Rs3,017.638 billion, or by Rs1.21 billion. Advances of specialized banks stood at Rs100.305 billion, larger by Rs0.021 billion over earlier week’s figure of Rs100.284 billion.

Investments of all scheduled banks increased in the week by Rs0.467 billion to Rs949.740 billion against preceding week’s figure of Rs949.273 billion. Compared to last year’s corresponding figure of Rs1,225.644 billion, current week’s figure is smaller by Rs275.904 billion. In the current week, commercial banks investment increased to Rs941.129 billion, from earlier week’s Rs940.678 billion, or by Rs0.451 billion. Specialised banks investment stood at Rs8.611 billion, against preceding week’s Rs8.595 billion, higher by Rs0.016 billion.