Daily Times

The State Bank of Pakistan (SBP) injected Rs10,718.9 billion in the market on Friday 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 6, 2024 for 7-day and 28-day tenors and accepted 34 bids cumulatively amounting to Rs10,613.9 billion.

The central bank received 34 bids for 7-day tenor cumulatively offering an amount of Rs10,613.9 billion at the rate of return ranging between 19.56 to 19.65 percent while no bid was received for the 28-day tenor. The central bank accepted all the 34 quotes for the 7-day tenor amounting to Rs10,613.9 billion at 19.56 % 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 Rs105 billion in the market. For the 7-day tenor, the SBP received one bid amounting to Rs105 billion at the 19.60% 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 19.60% cut-off rate.