SBP injects Rs120b into market
ISLAMABAD: State Bank of Pakistan (SBP) has injected into money market 120 billion rupees for one day and 1600 billion rupees for seven days as reverse repo purchase through its open market operation .
According to State Bank, twenty three quotes were accepted for 7 days OMO tenor and the rate of return accepted is 6.53 percent per annum.
Four quotes were accepted for one day OMO tenor and the rate of return accepted is 6.57 percent per annum.
The total amount offered at 6.53 percent in 9 days OMO was 455 billion rupees, out of which State Bank accepted 413.3 billion rupees on pro-rata basis.