Karachi October 21 2024: The State Bank of Pakistan (SBP) injected PKR 4,093 billion in the market through reverse repo purchase and Shariah Compliant Mudarabah based Open Market Operation (OMO) on Friday.
According to OMO results issued here, the SBP conducted Open Market Operation, Reverse Repo Purchase (Injection) on October18, 2024 for 7-day and 28-day tenors and accepted total 29 bids cumulatively amounting to PKR 4,068 billion.
The central bank received 28 bids for 7-day tenor cumulatively offering an amount of PKR 4,041.6 billion at the rate of return ranging between 17.56 to 17.61 percent while 1 bid amounting to PKR 26.4 billion was received for the 28-day tenor at 17.59% rate of return.
The central bank accepted all the 28 bids for 7-day tenor at 17.56% rate of return and the one quote for 28-day tenor at 17.59% rate of return.
Meanwhile, SBP also conducted Shariah Compliant Mudarabah based Open Market Operation for the 7-day and 28-day tenors and received only one bid for 7-day tenor quoting an amount of PKR 25 billion at 17.56% rate of return. The central bank accepted the entire amount of the only quote at the offered rate.
