State Bank Injects Rs1202 Billion Into Market
Sumaira FH Published December 18, 2024 | 06:41 PM
The State Bank of Pakistan (SBP), on Wednesday, injected Rs1,202.65 billion in the market through reverse repo purchase and Shariah Compliant Mudarabah based Open Market Operation (OMO)
KARACHI, (UrduPoint / Pakistan Point News - 18th Dec, 2024) The State Bank of Pakistan (SBP), on Wednesday, injected Rs1,202.65 billion in the market through reverse repo purchase and Shariah Compliant Mudarabah based Open Market Operation (OMO).
The SBP, following the Monetary Policy rate cut to 13%, conducted Open Market Operation, Reverse Repo Purchase (Injection) on December 18, 2024 for 2-day tenor and, as per results issued, accepted an amount of Rs1,013.65 billion offered through 12 bids.
The central bank received 12 bids for 2-day tenor cumulatively offering an amount of Rs1,013.
65 billion at the rate of return ranging from 13.07 to 13.25 percent. The SBP accepted the entire amount offered through 12 quotes for 2-day tenor at the 13.07% rate of return.
Meanwhile, SBP also conducted Shariah Compliant Mudarabah based Open Market Operation for the 2-day tenor. The central bank received 4 bids for 2-day tenor quoting an amount of Rs189 billion at the rate of return ranging between 13.10 to 13.15 %. The SBP accepted the entire amount offered through the 4 quotes for 2-day tenor at 13.10% rate of return.
