October 21, 2020 (MLN): The State Bank fo Pakistan (SBP) conducted an auction on Wednesday in which it sold Market Treasury Bills (MTBs) worth Rs.393.90 billion for 3 and 6 months.
Auction target was Rs.350.00 billion against a maturing amount of Rs.484.70 billion.
Cut off yield for 3 and 6 months were 7.175 and 7.2 percent.
Total amount offered was Rs.569.58 billion out of which the SBP accepted Rs.347.40 billion. The SBP received bids worth Rs.554.52 billion for 3 months and Rs.15.04 billion for 6 months out of which it accepted Rs.347.36 billion and Rs. 40.395 million respectively.
The SBP only received bids worth Rs.15 million for 12 months, all of which were rejected.
In addition the SBP picked up Rs.46.5 billion from the non-competitive auction, making the total amount accepted Rs.393.90 billion.
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