The State Bank of Pakistan (SBP) injected cumulatively Rs 2.17 trillion into the market through reverse repo and Shariah-compliant Modarabah-based Open Market Operations (OMOs) on Friday.
According to the SBP, Rs 2.09 trillion was injected through reverse repo, and Rs Rs 82 billion was injected through Modarabah-based OMO.
The SBP received bids worth Rs 2.24 trillion in the conventional OMO and Rs 132 billion in the Islamic OMO.Â
The bids were offered in three different tenors: 07-day, 14-day, and 28-day. The rates of return for the accepted bids ranged from 22.04% to 22.07%, which is in line with the SBP’s policy rate of 22%.
The SBP stated that the OMOs were conducted to meet the liquidity needs of both conventional and Islamic banking systems and to ensure smooth functioning of the money markets.Â
What is reverse repo.
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