SBP injects Rs2.43 trillion into market through reverse repo, OMOs

KARACHI: On Friday, the State Bank of Pakistan (SBP) injected Rs2,429.65 billion into the market through reverse repo purchases and Shariah-compliant Modaraba-based Open Market Operations (OMO).

The SBP conducted these operations on 3rd January, with injections for 7-day and 28-day tenors. According to the results, the central bank accepted Rs2,245.65 billion offered through 23 bids.

For the 7-day tenor, the SBP received 10 bids, amounting to Rs1,455.8 billion, with a return rate between 13.04 and 13.09 per cent. For the 28-day tenor, 13 bids were submitted, offering Rs1,145.65 billion at a return rate between 13.04 and 13.08 per cent.

The SBP accepted Rs1,100 billion from 10 bids for the 7-day tenor at a return rate of 13.04 per cent. Of the Rs427 billion offered at this rate, the central bank accepted Rs100 billion on a pro-rata basis.

Additionally, the SBP accepted all 13 bids for the 28-day tenor, amounting to Rs1,145.65 billion, also at a return rate of 13.04 per cent.

In separate operation, the SBP carried out Shariah-compliant Mudarabah-based injections for 7-day and 28-day tenors, injecting Rs184 billion into the market.

The bank received five quotes, four for the 7-day tenor totaling Rs179 billion with a return rate between 13.08 and 13.10 per cent, and one bid for the 28-day tenor offering Rs5 billion at 13.08 per cent.

The SBP accepted all five quotes, with the entire amount at a 13.08 per cent return rate.

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