SBP injects Rs720bn into the market

KARACHI: The State Bank of Pakistan (SBP) on Wednesday injected into the money market Rs120 billion for one day and Rs1,600 billion for seven days as reverse repo purchase through its open market operation.

Twenty three quotes were accepted for 7 days OMO tenor and the rate of return accepted is 6.53 per cent per annum. Four quotes were accepted for one day OMO tenor and the rate of return accepted is 6.57 per cent per annum, said SBP.

The total amount offered at 6.53 per cent in 9 days OMO was Rs455 billion, out of which State Bank accepted Rs413.3 on pro-rata basis.