Auction Result: Govt raises Rs664bn through T-bills

May 14, 2025 (MLN): The State Bank of Pakistan (SBP) conducted an auction on Wednesday in which it sold Market Treasury Bills (MTBs) worth Rs664.25 billion against the target of Rs550 billion while the maturity amount was Rs716bn.

Cut off yields stood at 11.2496% (-90) for one month, 11.2399% (-77bps) for 3 months, 11.2790% (-72bps) for 6 months, and 11.3490% (-66bps) for 12 months.

Total amount offered was Rs1.99tr, with the SBP receiving bids worth Rs667.66bn for one month, Rs453.56bn for 3 months, Rs225.15bn for 6 months, and Rs641.6bn for 12 months.

Out of this, SBP accepted Rs314.16bn, Rs72.56bn for 3 months, Rs39.65bn for 6 months, and Rs136.15bn for 12 months.

In addition, the central bank picked up Rs101.74bn from the non-competitive auction, making the total amount accepted Rs664.25bn.

The bid-to-cover ratio, which shows the amount of bids received versus the amount sold, rose to 2.99 as against 2.03 in the previous auction. In other words, the SBP accepted about 33.4% of the total bids it received.

To note, the central bank in the last auction held on April 30, 2024, sold MTBs worth Rs562bn against the target of Rs400bn while the maturity amount was Rs698bn.

Cut-off yields stood at 12.1492% for one month, 12.0098% for 3 months, 11.9998% for 6 months, and 12.0100% for 12 months.

Copyright Mettis Link News