Karachi May 31 2024: State Bank of Pakistan (SBP) on Friday injected PKR 10,470.5 billion (USD 37.6 billion) in the market through reverse repo purchase and Shariah Compliant Mudarabah based Open Market Operation (OMO) cumulatively.
According to OMO results issued here, the SBP conducted Open Market Operation, Reverse Repo Purchase (Injection) on May 31, 2024 for tenors of 7 and 28 days.
The central bank received 31 quotes for 7-day tenor amounting to PKR 10,122.55 billion offered at the rate of return ranging between 22.06 to 22.13 percent and 4 quotes for 28-day tenor amounting to PKR 145.95 billion at the rate of return ranging between 22.07 to 22.12%.
Of them, the SBP, accepted all the 31 quotes for 7-day tenor at 22.06 % rate of return p.a. while all the offered quotes for the 28-day tenor were accepted at 22.07 % return rate.
Meanwhile, the central bank also conducted Shariah Compliant Mudarabah based Open Market Operation for tenors of 7 and 28 days.
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%.
