Auction Result: SBP sells T-bills worth Rs2.28tr
MG News | June 01, 2023 at 12:50 AM GMT+05:00
June 01, 2023 (MLN): The State Bank of Pakistan(SBP) conducted an auction on Wednesday in which it sold Market Treasury Bills (MTBs) worth Rs2.28 trillion for 3, 6, and 12 months.
The auction target was Rs1.8tr against a maturing amount of Rs1.69tr.
The cut-off yield for 3, 6, and 12 months was 21.99%, 21.94%, and 21.99%.
The total amount offered was Rs3.05tr out of which the SBP accepted Rs2.22tr. The SBP received bids worth Rs2.43tr for 3 months, Rs306 billion for 6 months and Rs320.8bn for 12 months out of which it accepted Rs2.22tr, Rs1bn, and Rs0.40bn, respectively.
In addition, the SBP picked up Rs64.44bn from the non-competitive auction, making the total amount accepted Rs2.28bn.
Meanwhile, bids for 2 and 3-year Quarterly Coupon PIBs were rejected while there were no bids received by the SBP for 3 and 5-year semi-annual Coupon PIBs.
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