SBP to discontinue airtime incentive for USD remittances
15:30
February 3, 2023
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February 3, 2023 (MLN): The State Bank of Pakistan (SBP) Conducted an Open Market Operation (OMO) through which it injected Rs477.85 billion into the market.
Out of the amount injected, Rs186bn was Shariah Compliant Mudarabah while Rs291.85bn was through the conventional market.
SBP accepted bids for Rs4bn for 7 days in the regular OMO while it accepted Rs1 billion for 7 Days in the Shariah Compliant Mudarabah based OMO, the remaining amounts were for 77 days.
Summary of OMO Result
Amount (Rs in Millions)
Rate (%)
Bids
Tenor
Type
Offered
Accepted
High – Low
Accepted
Offered
Accepted
7-Days
Repo (Inject)
4,000
4,000
17.27 – 17.20
17.20
03
03
77-Days
Repo (Inject)
454,850
287,850
17.28 – 17.17
17.23
23
11
Total
458,850
291,850
Summary of Shariah-Compliant Mudarabah-based OMO Result
