KARACHI: The State Bank of Pakistan (SBP) on Friday injected Rs 1,589.5 billion into the market through open market reverse repo (OMO). According to the OMO results published here, SBP conducted open market operation, reverse repo purchase (injection) with 7-day and 28-day maturity on September 27, 2024 and accepted 20 bids totaling Rs 1,589.5 billion. The central bank received 14 bids for the 7-day tenor, which cumulatively offered an amount of Rs 1,420.050 billion with rates of return ranging from 17.56 to 17.62 percent, while 6 bids worth Rs 289.5 billion were received for the 28-day tenor. rate of return ranging from 17.59 to 17.60%. The central bank received 1,300 billion rupees offered through 14 quotations in 7 days with a return of 17.56%. The total amount offered at 17.56% was Rs 813.7 billion, of which SBP accepted Rs 693.65 billion on pro rata basis, OMO results said. In addition, the central bank accepted all 6 bids of Rs 289.5 billion for 28-day maturity also at 17.59%. Meanwhile, SBP also announced Shariah Compliant Mudarabah Open Market Operation for 7-day and 28-day tenors, but no bid was received for both the tenors.
