The operations involved the Open Market Operations (OMO) and the Short-Term Money Market Operations (SMMO). In OMO, the SBP purchased government securities from commercial banks.
The correction is attributed to a combination of factors, including a decline in global gold prices and a surge in the value of the Pakistani rupee against the US dollar. The Pakistani gold market is highly sensitive to global gold prices, and the recent correction is a reflection of this sensitivity.
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