SBP injects Rs 1.6036 trillion through reverse repo and Shariah-compliant OMOs

The State Bank of Pakistan has injected Rs 1.6036 trillion into the banking system through reverse repo purchase and Shariah-compliant mudarabah-based open market operations to manage liquidity conditions.

Out of the total amount, Rs 1.3931 trillion was injected through reverse repo purchase operations against 11 bids, while Rs 210.5 billion was provided through Shariah-compliant mudarabah-based OMOs.

For the 14-day reverse repo tenor, the central bank received seven bids amounting to Rs 1.5055 trillion, with offered rates ranging from 10.51% to 10.54%. The SBP accepted Rs 1.3 trillion at a rate of 10.51%. Of the Rs 481 billion offered at 10.51%, the bank accepted Rs 275.5 billion on a pro-rata basis.

For the 7-day reverse repo tenor, four bids were received totaling Rs 93.1 billion at rates between 10.53% and 10.54%. The SBP accepted the full amount at 10.53%.

Under the Shariah-compliant mudarabah-based operations, the SBP received three bids for the 7-day tenor totaling Rs 150 billion at rates between 10.54% and 10.55%, and accepted the entire amount at 10.54%.

For the 14-day mudarabah tenor, two bids worth Rs 60.5 billion were submitted at rates ranging from 10.54% to 10.55%. The central bank accepted the full amount at 10.54%.