Karachi July 26 2024: The State Bank of Pakistan (SBP) injected PKR 9,545 billion in the market on Friday through reverse repo purchase and Shariah Compliant Mudarabah based Open Market Operation (OMO).
According to OMO results issued here, the SBP conducted Open Market Operation, Reverse Repo Purchase (Injection) on July 26, 2024 for 7-day and 28-day tenors and accepted 30 bids amounting to Rs9,500 billion.
The central bank received 33 bids for 7-day tenor accumulatively offering an amount of PKR 9,651.65 billion at the rate of return ranging between 20.52 to 20.60 percent while no bid was offered for the 28-day tenor. The SBP accepted 30 quotes for 7-day tenor amounting to PKR 9,500 billion at 20.55 % annual rate of return.
Meanwhile, the central bank also injected Rs45 billion in the market through Shariah Compliant Mudarabah based Open Market Operation for 7-day tenor.
For the 7-day tenor, the SBP received one bid amounting to PKR 45 billion (face value of collateral) at 20.56% rate of return while no bid was received for 28-day tenor. The central bank accepted the single quote at 20.56% cut-off rate.
