The State Bank of Pakistan (SBP) injected Rs2350 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 29, 2024 for 7-day and 28-day tenors and accepted an amount of Rs2100 billion offered through 15 bids.
The central bank received 15 bids for 7-day tenor cumulatively offering an amount of Rs2417.4 billion at the rate of return ranging from 15.05 to 15.10 percent while no bid was received for the 28-day tenor. The central bank accepted an amount of Rs2100 billion offered through 15 bids for 7-day tenor at the 15.05% rate of return. Total amount offered at 15.05% was Rs705 billion, out of which SBP accepted Rs387.6 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 Rs250 billion in the market. The central bank received 5 bids for 7-day tenor quoting an amount of Rs327.1 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 Rs250 billion out of the total amount offered through 3 quotes for 7-day tenor at 15.08% rate of return. Total amount offered at 15.08% was Rs191 billion, out of which SBP accepted Rs113.9 billion on pro-rata basis.—APP
