HomeBusinessSBP injects over Rs241 billion into market

SBP injects over Rs241 billion into market

KARACHI, May 24 (APP):State Bank of Pakistan, Friday, injected Rs241.350 billion in the market 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 May 24, 2024 for tenors of 7 and 28 days.
The central bank received 4 quotes for 7-day tenor amounting to Rs154 billion offered at the rate of return ranging between 22.09 to 22.11 percent and 3 quotes for 28-day tenor amounting to Rs23.35 billion at 22.09 % annual rate of return.
The SBP, accepted all the 7 bids for 7 and 28 day tenor accumulatively amounting to Rs176.35 billion at 22.09% rate of return.
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 Rs65  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 all the 2 received quotes at 22.09% cut-off rate.
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