The State Bank of Pakistan (SBP) on Friday injected Rs4,245.5 billion into the money market through Reverse Repo Purchase and Shariah-compliant Mudarabah-based Open Market Operations (OMO) to maintain liquidity in the banking system.
According to the SBP, Rs3,914.5 billion were injected through conventional reverse repo operations for 7- and 14-day tenors, while Rs331 billion were provided through Shariah-compliant OMOs.
For the 7-day tenor, the central bank received 18 bids totalling Rs3,643 billion at rates between 11.00% and 11.07%. It accepted 17 bids amounting to Rs3,642.5 billion at a rate of 11.01%.
In the 14-day tenor, 11 bids were submitted, offering Rs272.5 billion at rates between 11.00% and 11.10%. The SBP accepted 10 bids worth Rs272 billion at 11.02%.
Under the Shariah-compliant Mudarabah OMO, the SBP received four bids for the 7-day tenor, all offering Rs331 billion at rates between 11.06% and 11.12%. The central bank accepted the full amount at 11.06%. No bids were received for the 14-day tenor.
