Karachi November 9 2024: The State Bank of Pakistan (SBP) injected PKR 9,620.2 billion, equivalent to USD 34.6 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 November 08, 2024 for 7-day and 28-day tenors and accepted total 46 bids cumulatively amounting to PKR 9,498.7 billion.
The central bank received 20 bids for 7-day tenor cumulatively offering an amount of PKR 2,486.75 billion at the rate of return ranging between 15.05 to 15.11 percent while 26 bids were received for the 28-day tenor offering total amount of PKR 7,011.95 billion at the rate of return ranging between 15.04 to 15.12 percent.
The central bank accepted the entire amount offered through all the 20 bids for 7-day tenor at 15.05 Percent rate of return and 26 bids for 28-day tenor at 15.04 Percent rate of return.
Meanwhile, SBP also conducted Shariah Compliant Mudarabah based Open Market Operation for the 7-day and 28-day tenors and injected PKR 121.5 billion in the market.
The central bank received 2 bids for 7-day tenor quoting an amount of PKR 121.5 billion at the rate of return ranging between 15.09 to 15.15 percent while no bid was received for 28-day tenor. The SBP accepted the entire amount of both the offered quotes for 7-day tenor at 15.09 percent rate of return.
