SBP injects Rs11.53tr into money market through reverse repo, Shariah-compliant OMOs

The State Bank of Pakistan (SBP) has injected Rs11.528 trillion into the money market through a combination of Reverse Repo Purchase and Shariah-compliant Mudarabah-based open market operations (OMOs) to support system liquidity.

According to SBP data, the central bank injected Rs11.208 trillion through conventional reverse repo operations across 7-day and 14-day tenors, accepting 26 bids in total. 

An additional Rs320 billion was injected via Shariah-compliant operations.

For the 7-day reverse repo, the SBP received five bids amounting to Rs208 billion, offering returns between 11.05% and 11.07%. The SBP accepted the full amount at 11.05%.

For the 14-day tenor, the SBP received 21 bids offering Rs11,186.6 billion, with rates ranging from 11.01% to 11.10%. The central bank accepted Rs11,000 billion at 11.01%, including Rs5,700.4 billion on a pro-rata basis from the amount offered at that rate.

Under the Shariah-compliant Mudarabah OMOs, SBP received one bid for the 14-day tenor amounting to Rs20 billion at 11.06%, which was accepted in full. Three bids for the 7-day tenor, offering Rs300 billion at returns between 11.01% and 11.07%, were also fully accepted at 11.01%.