SBP injects over Rs 2.2 trillion into market

The State Bank of Pakistan (SBP), on Friday, injected Rs 2,236.15 billion in the market through reverse repo purchase and Shariah Compliant Mudarabah based Open Market Operation (OMO).

According to OMO results issued here, the SBP conducted Open Market Operation, Reverse Repo Purchase (Injection) on September 20, 2024 for 7-day and 28-day tenors and accepted 25 bids cumulatively amounting to Rs 2,075.15 billion.

The central bank received 20 bids for 7-day tenor cumulatively offering an amount of Rs1,858.15 billion at the rate of return ranging between 17.56 to 17.60 percent while 5 bids amounting to Rs 217 billion were received for the 28-day tenor at the rate of return ranging between 17.58 to 17.60 %.

The central bank accepted total amount offered through all the 20 quotes for the 7-day tenor and 5 bids for 28-day tenor at 17.56% and 17.58% rates of return, respectively.

Meanwhile, SBP also conducted Shariah Compliant Mudarabah based Open Market Operation and injected Rs125 billion in the market.

For the 7-day tenor, the SBP received one bid amounting to Rs161 billion at 17.58% rate of return while no bid was received for 28-day tenor. The central bank accepted the only bid offered for 7-day tenor at 17.58% rate of return.