August 26, 2020 (MLN): The State Bank fo Pakistan(SBP) conducted an auction on Wednesday in which it sold Market Treasury Bills (MTBs) worth Rs.547.81 billion for 3, 6 and 12 months.
Auction target was Rs.450.00 billion against a maturing amount of Rs.653.20 billion.
Cut off yield for 3, 6 and 12 months were 7.1498, 7.18 and 7.3 percent showing an increase of 16 and 15 basis points for 3 and 12 months while the cut off for 6 months remained unchanged.
Total amount offered was Rs.1,002.59 billion out of which the SBP accepted Rs.525.74 billion. The SBP received bids worth Rs.363.24 billion for 3 months, Rs.358.84 billion for 6 months and Rs.280.51 billion for 12 months out of which it accepted Rs.257.74 billion, Rs. 203.49 billion and Rs.64.51 billion respectively.
In addition the SBP picked up Rs.22.07 billion from the non-competitive auction, making the total amount accepted Rs.547.81 billion.
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