KARACHI: The State Bank of Pakistan (SBP) injected a total of Rs966.5 billion into the market through its Open Market Operations (OMO), including both reverse repo purchases and Shariah-compliant Mudarabah-based transactions.
The SBP conducted reverse repo purchases on August 23, 2024, across 7-day and 28-day tenors. The central bank received 20 bids totaling Rs816.5 billion.
For the 7-day tenor, the SBP received 19 bids offering Rs1,119.4 billion, with return rates ranging from 19.58% to 19.65%. For the 28-day tenor, two bids were submitted totaling Rs16.5 billion, with return rates between 19.61% and 19.62%.
The SBP accepted 18 bids for the 7-day tenor amounting to Rs800 billion at a rate of 19.59% and two bids for the 28-day tenor totaling Rs16.5 billion at a 19.61% rate.
Additionally, the SBP carried out Shariah-compliant Mudarabah-based OMOs for both tenors, injecting Rs150 billion into the market. For the 7-day tenor, the bank received two bids totaling Rs197 billion, with return rates between 19.58% and 19.60%. No bids were received for the 28-day tenor. The SBP accepted the entire Rs150 billion offered for the 7-day tenor at a cut-off rate of 19.58%.
