August 23, 2022 (MLN): State Bank of Pakistan on Tuesday injected Rs177.35 billion into the money market through reverse repo purchase and Shariah compliant mudarabah based open market operation.
As per SBP statement, through reverse repo purchase operation the injected amount was Rs152.35bn for 3 days at 15.18% rate of return accepted per annum.
While, the amount injected through Shariah compliant mudaraba based operation was Rs25bn, for 3 days at 15.15% rate of return.
Twelve bids were placed by participants for reverse repo purchase ranging between 15.17% to 15.35% to raise Rs207.35bn. However, SBP accepted 10 bids worth Rs152.35bn
For Shariah compliant mudarabah based OMO, SBP received 6 bids that were offered to raise Rs65bn, of which SBP accepted 5 bids Rs25bn.
To recall, in yesterday’s meeting SBP decided to maintain policy rate at 15%.
Summary of OMO Result
Amount (Rs in Millions)
Rate (%)
Bids
Tenor
Type
Offered
Accepted
High – Low
Accepted
Offered
Accepted
3-Days
Reverse-Repo (Injection)
207,350
152,350
15.17–15.35
15.18
12
10
Summary of Shariah Complaint Mudarabah Based OMO Result
