Jul 15, 2020 (MLN): The State Bank fo Pakistan(SBP) conducted an auction on Wednesday in which it sold Market Treasury Bills (MTBs) worth Rs.268.59 billion for 3, 6 and 12 months.
Auction target was Rs.100.00 billion against a maturing amount of Rs.332.40 billion.
Cut off yield for 3, 6 and 12 months were 6.5598, 6.57 and 6.6001 percent, which represented a decline of 28.90, 8.99 and 24.99 basis points compared to the previous auction.
Total amount offered was Rs.477.69 billion out of which the SBP accepted Rs.249.20 billion. The SBP received bids worth Rs.173.74 billion for 3 months, Rs.157.30 billion for 6 months and Rs.146.65 billion for 12 months out of which it accepted Rs.103.10 billion, Rs. 62.25 billion and Rs.83.85 billion respectively.
In addition the SBP picked up Rs.19.39 billion from the non-competitive auction, making the total amount accepted Rs.268.59 billion.