The State Bank of Pakistan (SBP) injected a staggering Rs 10,470.5 billion into the market through reverse repo purchase and Shariah Compliant Mudarabah based Open Market Operation (OMO) on Friday.
According to the OMO results, the SBP conducted Reverse Repo Purchase (Injection) operations for both 7 and 28-day tenors. It received 31 quotes for the 7-day tenor, totaling Rs 10,122.55 billion, with rates ranging between 22.06 to 22.13 percent. Additionally, 4 quotes were received for the 28-day tenor, amounting to Rs 145.95 billion, with rates ranging between 22.07 to 22.12 percent. The SBP accepted all 31 quotes for the 7-day tenor at a rate of return of 22.06 percent, while all quotes for the 28-day tenor were accepted at a rate of return of 22.07 percent.
Furthermore, the SBP conducted Shariah Compliant Mudarabah based Open Market Operation for both 7 and 28-day tenors. It received 2 quotes totaling Rs 202 billion for the 7-day tenor, with rates ranging between 22.09% to 22.10%. However, no bids were received for the 28-day tenor. The SBP accepted both offered quotes for the 7-day tenor at a cut-off rate of 22.09%.
