Daily Times

The State Bank of Pakistan (SBP) injected Rs8,623.85 billion into the market through a reverse repo purchase Open Market Operation (OMO) on Friday. According to OMO results issued here, the SBP conducted an Open Market Operation, Reverse Repo Purchase (Injection) on October 11, 2024, for 7-day and 28-day tenors and accepted 38 bids cumulatively amounting to Rs8,623.85 million. The central bank received 23 bids for a 7-day tenor cumulatively offering an amount of Rs3,722.7 billion at the rate of return ranging between 17.56 to 17.62 percent while 15 bids amounting to Rs4,901.15 billion were received for the 28-day tenor at the rate of return ranging between 17.56 to 17.63 %. The central bank accepted all 23 bids for 7-day tenor and 15 quotes for 28-day tenor at a 17.56% rate of return. Meanwhile, SBP also conducted Shariah Compliant Mudarabah-based Open Market Operation for the 7-day and 28-day tenors but no bid was received for both the tenors.