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SBP sells Rs398.44b worth of T-Bills

SBP sells Rs398.44b worth of T-Bills

KARACHI: The State Bank of Pakistan (SBP) conducted Treasury Bills auction on Wednesday in which it sold Market Treasury Bills (MTBs) worth worth Rs398.44 billion for 3, 6 and 12 months.

The auction target was Rs300.00 billion against a maturing amount of Rs74.90 billion.

Cut off yield for 3, 6 and 12 months were 13.5391, 13.2899 and 13.14 percent. The cut off yields for 3 and 12 months came down by 5 and 11 basis points while for the 6m they remained unchanged.

Total amount offered was Rs1,147.77 billion out of which the SBP accepted Rs346.58 billion. The SBP received bids worth Rs407.49 billion for 3 months, Rs118.08 billion for 6 months and Rs622.19 billion for 12 months out of which it accepted Rs156.85 billion, Rs5.88 billion and Rs183.85 billion respectively.

In addition the state bank picked up Rs51.86 billion from the non-competitive auction making the total amount accepted to the tune of Rs398.44 billion.