Auction Result: SBP sells T-Bills worth Rs2.43tr

June 22, 2023 (MLN): The State Bank of Pakistan (SBP) conducted an auction on Wednesday in which it sold Market Treasury Bills (MTBs) worth Rs2.43 trillion for 3, 6, and 12 months.

The auction target was Rs.2.25tr against a maturing amount of Rs 2.16tr.

Cut-off yield for 3, 6, and 12 months were 21.99%, 21.97% and 21.99%.

Total amount offered was Rs3.29tr out of which the SBP accepted Rs2.27tr. The SBP received bids worth Rs2.45tr for 3 months, Rs403.43 billion for 6 months, and Rs433.86bn for 12 months out of which it accepted Rs2.22tr, Rs4.93bn and Rs49.86bn, respectively.

In addition, the SBP picked up Rs161.92bn from the non-competitive auction, making the total amount accepted Rs2.43tr.

In the Floating Rate PIB auction, the SBP picked up a further Rs97.99bn for 2, 3, and 5 years. SBP accepted Rs93.640bn through the 5-year semi-annual coupon bond while it picked up Rs3bn and Rs1.35bn through 2 and 3-year quarterly-coupon PIBs.

The central bank received no bids for the 10-year semi-annual bond.

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