Auction Result: Govt raises Rs325.5bn through T-bills

By MG News | January 22, 2025 at 09:55 PM GMT+05:00

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January 22, 2025 (MLN):The State Bank of Pakistan (SBP) conducted an auction on Wednesday in which it sold Market Treasury Bills (MTBs) worth Rs325.5 billion.

The target was to raise Rs350 billion while the maturity amount was Rs515bn.

Cut off yields stood at 11.5887% (-20bps) for 3 months, 11.4048% (-39bps) for 6 months, and 11.3898% (-41bps) for 12 months.

Total amount offered was Rs1.4tr, with the SBP receiving bids worth Rs163.14bn for 3 months, Rs373.48bn for 6 months, and Rs864.04bn for 12 months.

Out of this, SBP accepted Rs3.31bn for 3 months, Rs5bn for 6 months, and Rs211.97bn for 12 months.

In addition, the central bank picked up Rs105.23bn from the non-competitive auction, making the total amount accepted Rs325.5bn.

The bid-to-cover ratio, which shows the amount of bids received versus the amount sold, rose to 4.3 as against 3.04 in the previous auction. In other words, the SBP accepted about 23.2% of the total bids it received.

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