June 14, 2023 (MLN): The State Bank of Pakistan(SBP) conducted an auction on Wednesday in which it sold Market Treasury Bills (MTBs) worth Rs2.23 trillion for 3, 6 and 12 months.
The auction target was Rs1.2tr against a maturing amount of Rs1.07tr.
Cut-off yields for 3, 6, and 12 months were 21.99%, 21.98% and 21.99%.
The total amount offered was Rs2.58tr out of which the SBP accepted Rs2.17tr. The SBP received bids worth Rs2.01tr for 3 months, Rs223.56 billion for 6 months, and Rs350.66bn for 12 months out of which it accepted Rs1.97tr, Rs5.55bn and Rs191.16bn, respectively.
In addition, the SBP picked up Rs58.22bn from the non-competitive auction, making the total amount accepted Rs2.23tr.
In the Floating Rate PIB auction, the SBP picked up a further Rs165.24bn for 2, 3, and 5 years. SBP accepted Rs132.36bn through the 5-year semi-annual coupon bond while it picked up Rs28.43bn and Rs4.44bn through 2 and 3-year quarterly-coupon PIBs.
The central bank received no bids for the 10-year semi-annual bond.
