KARACHI: State Bank of Pakistan (SBP) on Friday injected Rs 1,012.3 billion into the market through Open Market Operation (OMO) reverse repo purchase. According to OMO results published here, SBP conducted open market operation, reverse repo purchase (injection) for 7-day and 28-day periods on October 4, 2024 and accepted 11 bids totaling Rs.1,012.3 billion. The central bank received 9 bids for 7-day tenor cumulatively offering an amount of Rs 882.3 billion with rates of return ranging from 17.56 to 17.65 percent, while 2 bids of Rs 130 billion were accepted for 28-day tenor with rates of return. ranging from 17.60 to 17.61%. The central bank accepted all 9 bids worth Rs 882.3 billion for the 7-day period with a return of 17.56%, while 2 bids for the 28-day period of Rs 130 billion were accepted with a return of 17.60%. Meanwhile, SBP also conducted a Shariah-compliant open market Mudarabah operation for 7-day and 28-day tenors, but no bid was received for both the tenors.
