Sbp pumps in Rs454.6bn into market through Open Market Operations
Published on: December 6, 2023.
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The State Bank of Pakistan (SBP) recently took steps to provide liquidity support to the market by conducting Open Market Operations (OMOs) on December 5, 2023. In total, the SBP injected Rs454.6 billion into the market through these operations.
One of the OMOs carried out by the SBP was a reverse repo operation. During this operation, the SBP accepted bids worth Rs434.6 billion from 14 participants. The average rate for this tenor of three days was 22.11%. The highest accepted rate was 22.21%, while the lowest was 22.06%.
Additionally, the SBP conducted a Shariah-compliant Modarabah-based OMO. In this operation, the SBP accepted a bid worth Rs20 billion at a rate of 22.11% for a tenor of three days.
These OMOs are part of the SBP’s efforts to manage the money supply and interest rates in the economy as part of its monetary policy measures.
The following tables provide a summary of the results of the OMOs:
– 03-Day Reverse Repo (Injection):
– Amount Offered: Rs469,450 million
– Amount Accepted: Rs434,600 million
– Rate: 22.21% – 22.06%
– Average Rate: 22.11%
– Number of Participants: 14
Total:
– Amount Offered: Rs469,450 million
– Amount Accepted: Rs434,600 million
These operations play a crucial role in providing liquidity support to the market and ensuring stability in the financial system.
For more information on the State Bank of Pakistan’s monetary policy measures and activities, you can visit their official website.
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