SBP injects over Rs2.53 trillion in the market
Business
It received 20 bids for 7-day tenor cumulatively offering an amount of Rs1,151.25 billion
KARACHI (APP) - The State Bank of Pakistan (SBP), Friday, injected over Rs 2,538 billion in the market through reverse repo purchase and Shariah Compliant Mudarabah based Open Market Operations (OMO).
The SBP, during the Open Market Operation, Reverse Repo Purchase (Injection) for 7-day and 28-day tenors on February 07, 2025 and accepted an amount of Rs 2,038.35 billion offered through 26 bids.
The central bank received 20 bids for 7-day tenor cumulatively offering an amount of Rs 1,151.25 billion at the rate of return ranging between 12.03 to 12.10 percent while 8 bids were received for the 28-day tenor amounting to Rs 936 billion at the rate of return ranging between 12.05 to 12.08%.
The SBP accepted the 18 quotes for 7-day tenor cumulatively amounting to Rs 1,147.35 at 12.05% rate of return while the entire amount offered through 8 bids for 28-day tenor was also accepted at 12.05% rate of return.
Meanwhile, the central bank also conducted Shariah Compliant Mudarabah based Open Market Operation for the 7-day and 28-day tenors and further injected around Rs 455 billion into the market.
The central bank received 4 bids for 7-day tenor quoting an amount of Rs 394.95 billion at the rate of return ranging between 12.08 to 12.10 % while 2 bids were received for 28-day tenor offering an amount of Rs 60 billion at 12.08% rate of return.
The SBP accepted the entire amount of Rs 454.95 offered through all the quotes for 7-day and 8-day tenors at 12.08% rate of return.
