SBP injects Rs720bn into market    

KARACHI: State Bank of Pakistan on Wednesday injected into money market Rs 120 billion for one day and Rs 1600 billion for seven days as reverse repo purchase through its open market operation.

Twenty three quotes were accepted for 7 days OMO tenor and the rate of return accepted is 6.53 percent per annum. Four quotes were accepted for one day OMO tenor and the rate of return accepted is 6.57 percent per annum, said SBP.

The total amount offered at 6.53 percent in 9 days OMO was Rs 455 billion, out of which State Bank accepted Rs 413.3 on pro-rata basis.