April 21, 2021 (MLN): The State Bank fo Pakistan(SBP) conducted an auction on Wednesday in which it sold Market Treasury Bills (MTBs) worth Rs.708.45 billion for 3 and 6 months.

Auction target was Rs.700.00 billion against a maturing amount of Rs.571.00 billion.

Cut off yield for 3 and 6 months were 7.4 and 7.6871 percent.

Total amount offered was Rs.1,702.54 billion out of which the SBP accepted Rs.590.13 billion. The SBP received bids worth Rs.545.43 billion for 3 months and Rs.1,066.12 for 6 months out of which it accepted Rs.242.68 billion and Rs. 347.45 billion respectively. All bids for the 12 month T-Bill were rejected.

In addition the SBP picked up Rs.118.33 billion from the non-competitive auction, making the total amount accepted Rs.708.45 billion.

Furthermore, from the Floating rate PIB auction, the SBP picked up Rs.12.09 billion through the sale of 2 year PIBs. The Bids for 3 and 5 years were rejected.

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