Daily Times

The State Bank of Pakistan (SBP) injected Rs2,369.5 billion in the market through reverse repo purchase and Shariah Compliant Mudarabah based Open Market Operation (OMO) on Friday.

According to OMO results issued here, the SBP conducted Open Market Operation, Reverse Repo Purchase (Injection) on November 22, 2024 for 7-day and 28-day tenors and accepted total 25 bids cumulatively amounting to Rs2,220.5 billion.

The central bank received 18 bids for 7-day tenor cumulatively offering an amount of Rs2,239.7 billion at the rate of return ranging between 15.04 to 15.08 percent while 3 bids were received for the 28-day tenor offering total amount of Rs120.5 billion at the rate of return ranging between 15.06 to 15.07 %.

The central bank accepted the entire amount offered through all the 3 bids for 28-day tenor -Rs.120.5 billion- at the 15.06% rate of return while an amount of 2,100 billion offered through 18 bids for 7-day tenor was accepted by the central bank at 15.04 % rate of return. Total amount offered at 15.04% was Rs602 billion, out of which SBP accepted Rs462.3 billion on pro-rata basis.

Meanwhile, SBP also conducted Shariah Compliant Mudarabah based Open Market Operation for the 7-day and 28-day tenors and injected Rs149 billion in the market.

The central bank received 3 bids for 7-day tenor quoting an amount of Rs149 billion at the rate of return ranging between 15.08 to 15.12 % while no bid was received for 28-day tenor. The SBP accepted the entire amount of the 3 offered quotes for 7-day tenor at 15.08% rate of return.