The State Bank of Pakistan (SBP) on Friday injected Rs12.26 trillion into the money market through a combination of conventional and Shariah-compliant open market operations (OMOs) to maintain liquidity across the financial system.
According to data from the central bank’s Domestic Markets and Monetary Management Department, the SBP accepted Rs11.99 trillion under its conventional reverse repo operation at a uniform rate of 11.01% per annum. The injection included Rs675 billion for a seven-day tenor and Rs11.32 trillion for a 14-day tenor.
The operation attracted 31 bids, with the seven-day portion partially accepted on a pro-rata basis. The accepted bids carried rates ranging between 11.01% and 11.05%.
In a separate Shariah-compliant Mudarabah-based OMO, the central bank injected Rs277 billion for seven days at a return rate of 11.05%, accepting all three received bids. No offers were submitted for the 14-day tenor in the Islamic window.
Market analysts said the large-scale liquidity injection aims to stabilise interbank rates and ensure smooth functioning of the financial system amid ongoing fiscal settlements.
