KARACHI: The State Bank of Pakistan (SBP) on Friday injected Rs1,589.5 billion in the market through reverse repo purchase Open Market Operation (OMO).
According to details, the central bank conduct conducted Open Market Operation, Reverse Repo Purchase (Injection) on September 27, 2024 for 7-day and 28-day tenors and accepted 20 bids cumulatively amounting to Rs1,589.5 billion.
The SBP received 14 quotes for 7-day tenor amounting to Rs1,420.050 billion offered at the rate of return ranging between 17.56 to 17.62 percent whereas 6 separate bids for the 28-day tenor amounting to Rs289.5 billion offered at the rate of return ranging between 17.59 to 17.60 percent.
The central bank accepted Rs1,300 billion offered through 14 bids for the 7-day tenor at 17.56 percent rate of return. The OMO results stated that the total amount offered at 17.56 percent was Rs813.7 billion, out of which SBP accepted Rs693.65 billion on pro-rata basis.
Moreover, the State Bank accepted all the 6 quotes amounting to Rs289.5 billion for 28-day tenor at 17.59 percent as well.
Meanwhile, SBP also announced Shariah Compliant Mudarabah based Open Market Operation for the 7-day and 28-day tenors but no bid was received for both the tenors.
