KARACHI: The State Bank of Pakistan (SBP) on Friday injected Rs10,129.3 billion in the market via Reverse Repo Purchase and Shariah Compliant Mudarabah based Open Market Operation (OMO).
As per the OMO results, the central bank conducted Open Market Operation, Reverse Repo Purchase on July 12, for seven-day and 28-day tenors and accepted all 42 quotes amounting to Rs10,074.3 billion.
The SBP overall received 25 bids for a seven-day tenor accumulatively offering an amount of Rs 8,102.75 billion at the rate of return ranging between 20.54 to 20.60 percent. For the 28-day tenor 17 bids worth Rs1,971.55 billion were offered at the rate of return ranging between 20.54 percent to 20.60 percent.
The SBP accepted all 25 bids for seven days and 17 quotes for 28-tenor at 20.54 percent annual rate of return.
Meanwhile, the bank also injected Rs 55 billion into the market through Shariah Compliant Mudarabah based Open Market Operation for a seven-day tenor.
The SBP for the seven-day tenor received one bid of Rs55 billion at 20.58 percent rate of return while no bid was received for the 28-day tenor. The central bank accepted the single bid quote at 22.58 percent cut-off rate.
