KARACHI, Sep 13 (APP): The State Bank of Pakistan (SBP) injected Rs11,772.55 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 September 13, 2024 for 7-day and 28-day tenors and accepted 51 bids cumulatively amounting to Rs11,647.55 billion.
The central bank received 22 bids for 7-day tenor cumulatively offering an amount of Rs2,643.6 billion at the rate of return ranging between 17.56 to 17.63 percent while 29 bids amounting to Rs9,003.95 billion were received for the 28-day tenor at the rate of return ranging between 17.56 to 17.65 %.
The central bank accepted all the 22 quotes for the 7-day tenor and 29 bids for 28-day tenor at 17.56% rate of return.
Meanwhile, the central bank also conducted Shariah Compliant Mudarabah based Open Market Operation for 7-day and 28-day tenors and injected Rs125 billion in the market.
For the 7-day tenor, the SBP received one bid amounting to Rs125 billion at 17.59% rate of return while no bid was received for 28-day tenor. The central bank accepted the only bid offered for 7-day tenor at 17.59% rate of return.
