SBP injects Rs7.63trn into market through OMOs

The State Bank of Pakistan (SBP) liquidated the market with Rs7.63 trillion through reverse repo and Shariah compliance Modaraba-based open market operations (OMOs) on Friday. 

According to details shared by the SBP, the total amount offered and accepted in the reverse repo stands at Rs 7.51 trillion.

In reverse repo OMO, Rs 7.262 trillion was offered and accepted for a 7-day tenor on a rate ranging from 22.11% and 22.05%.

A total of 27 quotes were offered and accepted in reverse repo OMO, indicating a higher demand for short-term liquidity.

Another 10 quotes amounting to Rs 246 billion were offered and accepted for 28-day tenor on rates ranging from 22.1% to 22.04%. 

Meanwhile, Rs 120.5 billion was offered and accepted in Shariah compliance Modaraba-based OMO for a tenor of seven days on a rate between 22.1% and 22.08%.

No quotes were offered for the 28-day tenor in Modaraba-based OMO.