SBP injects Rs809.7bn into market through OMOs 

The State Bank of Pakistan (SBP) on Friday injected Rs 809.7 billion into the market through reverse repo and Shariah-compliant Mudarabah-based Open Market Operations (OMOs). 

According to OMO results issued here, the SBP conducted a reverse repo purchase for tenors of seven and 28 days.

The central bank received two quotes for 7-day tenor amounting to Rs 89 billion offered at the rate of return ranging between 22.09% to 22.10% and 13 quotes for 28-day tenor amounting to Rs 827.7 billion at the rate of return ranging between 22.05% to 22.10%. 

Out of these, the SBP accepted two quotes for a 7-day tenor at a 22.09% rate of return. For the 28-day tenor, 11 quotes amounting to Rs 658.70 billion were accepted at a 22.07 % return rate. 

Meanwhile, the central bank also conducted Shariah Compliant Mudarabah-based Open Market Operations for tenors of seven and 28 days. 

The SBP received three quotes amounting to Rs 62 billion for a 7-day tenor at the rate of return ranging between 22.08% to 22.11% while no bid was received for a 28-day tenor. 

The SBP accepted all three quotes at the cut-off rate of 22.08%.