SBP Injects Rs2,173.6B via Reverse Repo and Islamic OMOs

KARACHI: The State Bank of Pakistan (SBP) on Friday unleashed Rs2,173.6 billion into the money market through Reverse Repo Purchase operations and Shariah-compliant Mudarabah-based OMOs to guarantee liquidity. The central bank pumped Rs1,972.6 billion via conventional reverse repo for 7-day and 14-day tenors. For the 14-day tenor, SBP received 12 bids offering Rs1,895 billion at returns between 11.01% and 11.09%, accepting the full amount at 11.01%. Another four bids were received for the 7-day tenor, offering Rs77.6 billion at rates between 11.02% and 11.06%, all accepted at 11.02%. Separately, the SBP conducted Shariah-compliant Mudarabah OMOs for both 7-day and 14-day placements. No bids were received for the 14-day tenor, while two bids amounting to Rs201 billion were submitted for the 7-day tenor at 11.05%. The central bank accepted the entire amount.