According to OMO results issued here, the SBP conducted Open Market Operation, Reverse Repo Purchase (Injection) on August 16, 2024 for 7-day and 28-day tenors and accepted 12 bids cumulatively amounting to Rs755.6 billion. The central bank received 7 bids for 7-day tenor cumulatively offering an amount of Rs719.9 billion at the rate of return ranging between 19.58 to 19.59 percent while 13 bids were received for the 28-day tenor offering an amount of Rs318.6 billion at the rate of return ranging between 19.57 to 19.60%. The SBP accepted 6 quotes for 7-day tenor amounting to Rs550 billion at 19.59 % rate of return while 6 quotes for 28-day tenor amounting to Rs205.6 billion were accepted at 19.59% rate of return.
Meanwhile, the central bank also conducted Shariah Compliant Mudarabah based Open Market Operation for 7-day and 28-day tenors and injected Rs146 billion in the market. For the 7-day tenor, the SBP received two bids amounting to Rs146 billion (face value of collateral) at the rate of return ranging between 19.58 to 19.60 % while no bid was received for 28-day tenor. The central bank accepted both the offered bids for 7-day tenor at 19.58% cut-off rate.
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