SBP injects Rs3.26 trillion into banking system through conventional, Islamic OMOs

Profit by Pakistan Today reported that the State Bank of Pakistan (SBP) added Rs3.26 trillion in total to the financial system on October 2, using both conventional and Shariah-compliant operations. Most of this liquidity was placed on 14-day terms, with the central bank accepting Rs2.475 trillion in conventional bids at 11.51% per annum.

The conventional side drew offers totalling Rs3.186 trillion, but the realised value of accepted amounts came to Rs2.637 trillion. In the seven-day tenor, the SBP accepted all of the Rs240.05 billion offered at 11.54% per annum. On the Shariah side, the central bank injected Rs543.5 billion at face value through Mudarabah-based operations, against offers of Rs595 billion.

Taken together, the face-value injection totalled Rs3.259 trillion from offers worth Rs3.781 trillion. Within the Shariah-compliant 14-day tenor, nine quotes were successful, with Rs437.5 billion taken up at 11.54%.