Karachi July 5 2024: The State Bank of Pakistan (SBP) injected PKR 1,327.1 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 05, 2024 for 7-day and 28-day tenors and accepted 14 bids amounting to PKR 1,286.1 billion.
The central bank received 7 bids for 7-day tenor accumulatively offering an amount of PKR 1,051 billion at the rate of return ranging between 20.56 to 20.58 percent. For the 28-day tenor 9 bids amounting to PKR 286.1 billion were offered at the rate of return ranging between 20.55% to 20.60%.
The SBP accepted 6 quotes for 7-day tenor amounting to PKR 1,001 billion at 20.57% rate of return and 8 quotes for 28-tenor amounting to PKR 285.1 billion at 20.56 % annual rate of return.
Meanwhile, the central bank also injected PKR 41 billion in the market through Shariah Compliant Mudarabah based Open Market Operation for 7-day and 28-day tenors.
The SBP received bids amounting to PKR 41 billion (face value of collateral) at rate of return ranging between 20.57% to 20.60% while no bid was received for 28-day tenor. The central bank accepted both the quotes at 20.57% cut-off rate.
