July 14, 2021 (MLN): The State Bank fo Pakistan(SBP) conducted an auction on Wednesday in which it sold Market Treasury Bills (MTBs) worth Rs.693.12 billion for 3 and 6 months.
Auction target was Rs.700.00 billion against a maturing amount of Rs.417.00 billion.
Cut off yield for 3 and 6 months were 7.2589 and 7.539 percent.
Total amount offered was Rs.1,683.77 billion out of which the SBP accepted Rs.569.77 billion. The SBP received bids worth Rs.625.15 billion for 3 months and Rs.920.12 for 6 months out of which it accepted Rs.94.97 billion and Rs. 474.80 billion respectively. All bids for the 12 month T-Bill were rejected.
Additionally the SBP picked up Rs.123.34 billion from the non-competitive auction, making the total amount accepted from MTBs Rs.693.12 billion.
In the floating rate PIB auction, the SBP picked up an Rs.109.65 billion for 2, 3 and 5 years. The SBP received bids worth Rs.170.146 billion against an auction target of Rs.75 billion out of which the SBP accepted Rs.25.235 billion for 2 years, Rs.79.317 billion for 3 years and Rs.5.10 billion for 5 years.
