KARACHI, Jan 03 (APP): The State Bank of Pakistan (SBP) pumped Rs2,429.65 billion into the market through reverse repo purchases and Shariah-compliant Mudaraba-based open market operations (OMO) on Friday.
The State Bank of Pakistan conducted open market, reverse repo purchasing (injection) operation on 03 January 2025 for 7 days and 28 days and as per the results released, accepted an amount of Rs 2,245.65 billion offered through 23 offers.
The central bank received 10 7-day bids worth a total of Rs1,455.8 billion with a rate of return ranging from 13.04 to 13.09 percent, while 13 28-day bids worth Rs1,145.65 billion were received. With a return rate ranging from 13.04 to 13.08%.
The central bank accepted an amount of Rs 1,100 billion offered through 10 7-day quotes at a return rate of 13.04%. The total amount offered at 13.04% was INR 427 billion, of which the State Bank of Pakistan accepted INR 100 billion on a pro rata basis. The State Bank of Pakistan also approved all 13 quotations submitted for 28 days worth Rs1,145.65 billion at a rate of return of 13.04%.
Meanwhile, SBP also conducted a 7-day and 28-day Shariah-compliant Mudaraba-based open market operation and pumped Rs184 billion into the market while accepting the five bids offered.
The central bank received 4 7-day bids worth Rs179 billion with a return rate of 13.08-13.10% and one 28-day bid worth Rs5 billion with a return rate of 13.08%.
SBP Bank accepted all five quotes for 7 days and 28 days with the full amount offered at a return rate of 13.08%.