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Auction Result: SBP Sells MTB worth Rs.2.32 Trillion

July 17, 2019 (MLN): July 17, 2019 (MLN): The State bank of Pakistan conducted an auction on Wednesday in which it sold market treasury bills (MTB’s) worth Rs.2.32 trillion for 3, 6 and 12 months.

The auction target was Rs.600 Billion against a maturing amount of Rs.638.505 Billion.

The SBP’s decision to raise the Policy Rate by 100 basis points on Tuesday seemed to elicit a positive albeit measured response from market participants, as bids were received across all tenors.

While the main concentration of bids was in the 3 month tenor, the 6 and 12 month MTBs received a substantial increase over previous auctions.

Cut off Yields for the 3 Month was 13.7499 percent, 6 Months was 13.95 percent while 12 month was 14.10 percent.

The SBP received bids worth Rs.2.054 Trillion for 3 months, Rs.146.963 Billion for 6 months and Rs.125.178 Billion for 12 months, out of which the SBP accepted Rs.2.04 Trillion for 3 months while it accepted Rs.134.899 Billion and Rs.112.728 Billion for 6 and 12 months.

Including the non-competitive bids, the total accepted amount increased to Rs.2.32 Trillion.


Copyright Mettis Link News

Posted on: 2019-07-17T20:25:00+05:00


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