SBP injects Rs 9.55 trillion into market through OMOs

The State Bank of Pakistan (SBP) liquidated the market by injecting Rs 9.55 trillion through Open Market Operations (OMOs) on Friday. 

As per data shared by the SBP,  Rs 9.5 trillion was injected through conventional reverse repo OMO, exceeding the initial target of Rs 150 billion.  The bids were robust, with the bank accepting Rs 9.5 trillion at varying rates, peaking at a cut-off yield of 20.55% for a 7-day tenor.

Simultaneously, the SBP also executed a Shariah-compliant Mudarabah-based operation, injecting Rs 45 billion into the market. 

This specific operation catered to a 7-day tenor, receiving one bid which was fully accepted at a 20.56% rate. 

No bids were received for the 28-day tenor.