The State Bank of Pakistan (SBP) injected Rs9,620.2 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 08, 2024 for 7-day and 28-day tenors and accepted total 46 bids cumulatively amounting to Rs9,498.7 billion.
The central bank received 20 bids for 7-day tenor cumulatively offering an amount of Rs2,486.75 billion at the rate of return ranging between 15.05 to 15.11 percent while 26 bids were received for the 28-day tenor offering total amount of Rs7,011.95 billion at the rate of return ranging between 15.04 to 15.12 %.
The central bank accepted the entire amount offered through all the 20 bids for 7-day tenor at 15.05 % rate of return and 26 bids for 28-day tenor at 15.04 % rate of return.
Meanwhile, SBP also conducted Shariah Compliant Mudarabah based Open Market Operation for the 7-day and 28-day tenors and injected Rs121.5 billion in the market. The central bank received 2 bids for 7-day tenor quoting an amount of Rs121.5 billion at the rate of return ranging between 15.09 to 15.15 % while no bid was received for 28-day tenor. The SBP accepted the entire amount of both the offered quotes for 7-day tenor at 15.09% rate of return.—APP
