OMO Result: SBP injects Rs2.4tr

Mettis Global reported that the State Bank of Pakistan injected a total of Rs2.40 trillion into the market on September 03, 2026, via a reverse repo and a Shariah-compliant, modarabah-based open market operation. Of this sum, Rs1.92 trillion came through the reverse repo window, which lends funds to banks and primary dealers against eligible securities. The remaining amount was placed through the modarabah-based channel, which the central bank uses to address liquidity shortages in the system.

In the conventional segment, the seven-day reverse repo drew Rs16,200 million at 11.56 per cent, while the 14-day tenor accepted Rs1,900,000 million at rates between 11.51 and 11.55 per cent. Offers at the 11.51 rate totalled Rs1,906,500 million, and SBP accepted Rs1,476,000 million of that on a pro-rata basis. The Shariah-compliant segment added Rs480,100 million, split between Rs68,100 million for seven days at 11.55 per cent and Rs412,000 million for 14 days at 11.51 per cent.

According to the explanatory note, such operations let SBP inject or mop up funds from the banking system, depending on liquidity requirements. For injections, SBP lends to banks and primary dealers against eligible collateral, and treasury bills and Pakistan Investment Bonds qualify. Mop-up operations work the other way, with SBP selling treasury bills to banks.