SBP injects Rs 317.8 bn into market

SBP decides to raise policy rate by 100 basis points to 16 pc

KARACHI, Aug 26 (APP): State Bank of Pakistan on Friday injected Rs 317.8 billion into money market through its Open Market Operation.

Rs 241.8 billion were injected as reverse repo purchase — Rs 68.250 billion for seven days and Rs 173.550 billion for 63 days.

Rs 76 billion were pumped into the market through Shariah Compliant Mudaraba based OMO– Rs 69 billion for 7 days (face value of collateral) with 15.14 % cut-off and
Rs 7 billion for 63 days (face value of collateral) at 15.20 % cut-off rate.