SBP injects over Rs 329 billion into market

KARACHI, Jun 11 (APP): The State Bank of Pakistan (SBP) on Tuesday injected Rs 329.7 billion in the market through Reverse Repo Purchase and Shariah Compliant Mudarabah based Open Market Operation (OMO).

The SBP conducted Open Market Operation through Reverse Repo Purchase (Injection) for a 3-day tenor and received 13 quotes amounting to Rs 239.7 billion offered at the rate of return ranging between 20.55 to 20.62 percent. The SBP accepted all the 13 quotes at 20.55 % rate of return.

The central bank also conducted Shariah Compliant Mudarabah based Open Market Operation for 3-day tenor, and accepted the only one quote amounting to Rs 90 billion received at 20.59% rate of return.