The State Bank of Pakistan (SBP) injected Rs2.18 trillion into the market through Open Market Operations (OMOs) on June 28, 2024.
The SBP conducted a Reverse Repo Purchase OMO. For the 7-day tenor, the central bank received 12 bids with a rate range of 20.62% to 20.55%, accepting all 12 bids at a rate of 20.55%, amounting to Rs1.243 trillion.
For the 28-day tenor, 16 bids were received within a rate range of 20.60% to 20.55%, with all bids accepted at 20.55%, totalling Rs899.9 billion.
Overall, the SBP accepted Rs2.143 trillion through the Reverse Repo Purchase OMO, resulting in a combined total of Rs2.177 trillion accepted across both operations.
In the Shariah Compliant Mudarabah-based OMO injection, the SBP received one bid for the 7-day tenor, with a quote of 20.60%, accepting the entire Rs34 billion offered at this rate.
However, no bids were received for the 28-day tenor, resulting in no amount being accepted.
These OMOs are part of the SBP’s strategy to ensure adequate liquidity in the financial system.
