OMO Result: SBP injects over Rs2tr into Market

MG News | April 10, 2026 at 01:05 PM GMT+05:00

0:00

April 10, 2026 (MLN): The State Bank of Pakistan (SBP) conducted a reverse repo and Shariah Compliant Modarabah-based Open Market Operation (OMO) today, in which it cumulatively injected a total of Rs2.01trillion into the market, of which Rs1.628tr were injected through reverse repo OMO.

Summary of OMO Result (Conventional)
		Amount (Rs in Million)		Rate (%)		Quotes
Tenor	Type	Offered	Accepted	High – Low	Accepted	Offered	Accepted
7D	Reverse Repo (Injection)	127,500	127,500	10.55 – 10.53	10.53	04	04
14D		1,500,800	1,500,800	10.57– 10.51	10.51	13	13
Total		1,628,300	1,628,300

Meanwhile, the remaining Rs385bn was injected through Shariah-compliant Modarabah-based OMO.

Summary of OMO Result (Shariah)
		Amount (Rs in Million)		Rate (%)		Quotes
Tenor	Type	Offered	Accepted	High – Low	Accepted	Offered	Accepted
7D	Reverse Repo (Injection)	121,000	75,050	10.58 – 10.57	10.56*	04	03
14D		378,000	310,000	10.58 – 10.54	10.57	07	05
Total		499,000	385,050

A total of Rs87,500m was offered at 10.56%, out of which the SBP accepted Rs.55,050m on a pro-rata basis.

Explanatory Note

Open Market Operation is a tool used by SBP to inject or mop up funds from the banking system, based on liquidity requirements, via the purchase or sale of eligible securities.

Operationally, in case of OMO (Injections), SBP lends funds to banks/Primary Dealers (PDs) against eligible collateral to address liquidity shortage in the system.

For OMO (Injections), marketable government securities, i.e. Market Treasury Bills (MTBs) and Pakistan Investment Bonds (PIBs) are eligible securities.

In OMO (Mop-up), SBP sells MTBs to banks in exchange for funds to remove surplus liquidity from the system.

Eligible collateral for OMO (Mop-up) includes selling MTBs (on repo or outright basis) to banks for removing excess liquidity from the system.

In case of Bai-Muajjal, a Shariah compliant tool for managing liquidity in the Islamic banking system, GOP Ijara Sukuk are eligible securities.

Banks and PDs are eligible counterparties to OMO transactions. For Bai Muajjal transactions, Islamic banks and specialized Islamic windows of conventional banks are eligible counterparties.

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