SBP injects Rs.454.6 billion into market

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KARACHI, Dec 05 : State Bank of Pakistan, Tuesday, injected Rs. 454.6 billion in the market through reverse repo purchase and Shariah Compliant Modarabah Open Market Operation (OMO) cumulatively. According to OMO results issued here, the SBP conducted Open Market Operation, Reverse Repo Purchase (Injection) on December 5, 2023 for a tenor of 3 days.

The central bank received 14 quotes amounting to Rs.469.450 billion offered at the rate of return ranging between 22.06 to 22.21 percent. Of them, the SBP, accepted 9 quotes amounting to Rs.434.6 billion at the return rate of 22.11 %. Meanwhile, the central bank also conducted Shariah Compliant Mudarabah based Open Market Operation for a tenor of 3 days, in which it received one quote amounting to Rs.20 billion. The SBP accepted the quote at cut-off rate of 22.11%.