SBP injects over Rs9.5 trillion into financial market to enhance liquidity

ISLAMABAD: On Friday, the State Bank of Pakistan (SBP) injected a total of Rs9,545 billion into the financial market through a combination of reverse repo purchases and Shariah-compliant Mudarabah-based Open Market Operations (OMO).

The SBP’s Open Market Operation for July 26, 2024, involved reverse repo purchases with both 7-day and 28-day tenors. The central bank received 33 bids for the 7-day tenor, offering a cumulative amount of Rs9,651.65 billion at a return rate ranging from 20.52 per cent to 20.60 per cent.

Out of these, 30 bids were accepted, amounting to Rs9,500 billion at an annual return rate of 20.55 per cent. No bids were submitted for the 28-day tenor.

In addition, the SBP injected Rs45 billion into the market through Shariah-compliant Mudarabah-based OMO for a 7-day tenor.

For this operation, the bank received a single bid of Rs45 billion at a return rate of 20.56 per cent. No bids were received for the 28-day tenor, and the central bank accepted the sole bid at a cut-off rate of 20.56 per cent.

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