KARACHI: The State Bank of Pakistan (SBP), on Friday injected Rs 10,470.5 billion in the market through reverse repo purchase and Shariah Compliant Mudarabah based Open Market Operation (OMO) cumulatively.
According to details, the central bank conducted Open Market Operation, Reverse Repo Purchase (Injection) on May 31, 2024 for two moods comprising 7 and 28 days.
The State Bank received 31 quotes for 7-day tenor amounting to Rs 10,122.55 billion offered at the rate of return ranging between 22.06 to 22.13 percent whereas 4 separate quotes for 28-day tenor amounting to Rs 145.95 billion at the rate of return ranging between 22.07 to 22.12 percent.
Among these, the State Bank accepted all the 31 quotes for 7-day tenor at 22.06 % rate of return p.a. while all the rest offered quotes were accepted at 22.07 % return rate for 28-days tenor.
Meanwhile, the central bank also conducted Shariah Compliant Mudarabah based Open Market Operation for moods of 7 and 28 days.
Meanwhile, the SBP received 2 quotes amounting to Rs 202 billion for 7-day tenor at the rate of return ranging between 22.09% to 22.10% while no bid was received for 28-day tenor.
The SBP accepted both the offered quotes for 7-day tenor at cut-off rate of 22.09 percent.
