Auction Result: Govt raises Rs965bn through T-bills

April 16, 2025 (MLN): The State Bank of Pakistan (SBP) conducted an auction on Wednesday in which it sold Market Treasury Bills (MTBs) worth Rs964.63 billion.

The target was to raise Rs850 billion while the maturity amount was Rs821bn.

Cut-off yields stood at 12.3194% (-7bps) for one month, 12.0100% for 3 months, 11.9900% (-1bps) for 6 months, and 12.0100% for 12 months.

The total amount offered was Rs1.73tr, with the SBP receiving bids worth Rs193.35bn for 3 months, Rs162.5bn for 6 months, and Rs581.55bn for 12 months.

Out of this, SBP accepted Rs92.48bn for 3 months, Rs59bn for 6 months, and Rs445.05bn for 12 months.

In addition, the central bank picked up Rs102.06bn from the non-competitive auction, making the total amount accepted Rs964.63bn.

The bid-to-cover ratio, which shows the amount of bids received versus the amount sold, increased to 1.79 as against 1.7 in the previous auction. In other words, the SBP accepted about 55.7% of the total bids it received.

To note, the central bank in the last auction held on March 26, 2025, sold MTBs worth Rs639.77bn against a target of Rs650bn.

Cut-off yields for 3, 6, and 12 months were 12.01%, 11.9999%, and 12.01%.

Copyright Mettis Link News