SBP injects Rs1.58 trillion into market through Open Market Operations

Source: Customs Today Newspaper

KARACHI: The State Bank of Pakistan (SBP) injected a total of Rs1.58 trillion into the market through a reverse repo and Shariah Compliant Modarabah-based Open Market Operation (OMOs) on Friday.

According to OMO results shared by the central bank, the conventional OMO, a Reverse Repo Purchase (Injection), concluded with a total of Rs 1.33595 trillion being accepted.

In the 10-day tenure, eight quotes were offered and accepted at a rate of 22.05%, amounting to Rs 460.45 billion.

The 28-day tenure of reverse repo OMO saw 13 quotes offered and accepted at a rate of 22.04%, with an amount of Rs 875.50 billion.

Simultaneously, the central bank carried out a Shariah-compliant Mudarabah-based OMO. For the 10-day tenure of Shariah Compliant OMO, four quotes were received and accepted, totaling Rs 250 billion at a cut-off rate of 22.08%.