Monday, June 17, 2024

SBP Injects Rs 10.47 Trillion into Market

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.

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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%.

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Zubair Yaqoob
Zubair Yaqoob
Zubair Yaqoob is a senior anchor, and an investigative journalist with an impressive 37 years of experience. Zubair's journalistic journey has been marked by a relentless pursuit of truth and a commitment to delivering impactful stories.Zubair's expertise extends beyond borders, reaching as far as Malaysia, where he has left an indelible mark on the international journalism landscape. His global perspective and keen analytical skills have allowed him to navigate diverse cultural landscapes, bringing a unique and enriching perspective to his reporting.Whether he's in the studio or on the field, Zubair continues to be a driving force in the world of journalism, bridging gaps, fostering understanding, and unraveling the stories that matter most. As the Headline PK Author, Zubair remains at the forefront of news, guiding audiences through the complexities of our ever-evolving world.
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