Auction Result: SBP Sells T-Bills worth Rs.179.71 Billion as yields go up

July 29, 2020 (MLN): The State Bank of Pakistan (SBP) conducted an auction on Wednesday in which it sold Market Treasury Bills (MTBs) worth Rs.179.71 billion for 3, 6 and 12 months.

Auction target was Rs.200.00 billion against a maturing amount of Rs.227.10 billion.

Cut off yield for 3, 6 and 12 months were 6.9501, 7.0995 and 7.14 percent, which showed an increase of 39, 53 and 54 basis points over the previous auction.

Total amount offered was Rs.651.34 billion out of which the SBP accepted Rs.167.60 billion. The SBP received bids worth Rs.248.09 billion for 3 months, Rs.182.25 billion for 6 months and Rs.221.00 billion for 12 months out of which it accepted Rs.63.70 billion, Rs. 49.90 billion and Rs.54.00 billion respectively.

In addition the SBP picked up Rs.12.11 billion from the non-competitive auction, making the total amount accepted Rs.179.71 billion.

Copyright Mettis Link News