SBP injects Rs454.6bn into market through OMOs

The tenor of the OMO is three days at a rate of 22.11%

The State Bank of Pakistan (SBP) conducted two types of Open Market Operations (OMOs) on December 5, 2023, in which it injected a total of Rs454.6 billion into the market to provide liquidity support.

The SBP carried out a reverse repo OMO, in which it accepted bids worth Rs434.6 billion from 14 participants at an average rate of 22.11% for a tenor of three days. The highest and lowest rates accepted were 22.21% and 22.06%, respectively.

The SBP also conducted a Shariah-compliant Modarabah-based OMO, in which it accepted one bid worth Rs20 billion at a rate of 22.11% for a tenor of three days.

The OMOs were part of the SBP’s monetary policy measures to manage the money supply and interest rates in the economy.

The following tables summarize the results of the OMOs:

Amount (Rs in Million) Rate (%) Quotes Tenor Type Offered Accepted High – Low Accepted Offered Accepted
03-Day Reverse Repo (Injection) 469,450 434,600 22.21 – 22.06 22.11 14 09
Total 469,450 434,600

 

Amount (Rs in Million) Rate (%) Quotes Tenor Type Offered Accepted High – Low Accepted Offered Accepted
03-Day Shariah-compliant Modarabah-based OMO 20,000 20,000 22.11 – 22.11 22.11 01 01
Total 20,000 20,000

 

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