SBP injects Rs2.17tr into money market

The State Bank of Pakistan (SBP) injected a combined liquidity of Rs2.17 trillion into the money market on Friday through conventional and Shariah-compliant open market operations (OMOs), indicating continued efforts to maintain system liquidity. According to the central bank data, the conventional OMO injection amounted to Rs1.97 trillion, offered and fully accepted across two tenors. Banks offered Rs77.6 billion for seven-day tenor at rates ranging between 11.02% and 11.06%, all of which were accepted at 11.02%. For 14-day tenor, banks offered Rs1.895 trillion at 11.01% to 11.09%, with the SBP accepting the full amount at 11.01%. Separately, under the Shariah-compliant Mudarabah-based OMO, the SBP accepted Rs201 billion for seven-day tenor at a return of 11.05%, against total bids of the same amount. No bids were received for the 14-day tenor.