SBP injects Rs4.25tr into money market through reverse repo and mudarabah OMOs

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.