October 04, 2023 (MLN): The State Bank of Pakistan (SBP) conducted an auction on Wednesday in which it sold Market Treasury Bills (MTBs) worth Rs557.388 billion for 3,6 and 12 months against a target of Rs600bn.
Cut off yields for 3, 6, and 12 months were 22.5002%, 22.8500%, and 22.8400%.
This means the the cut off yields for 3 and 12 months fell by 29bps and 6bps respectively, while the 6 month saw an increase of 5bps.
Total amount offered was Rs2.816tr out of which the SBP accepted Rs557bn.
The SBP received bids worth Rs2.25tr for 3 months, Rs120bn for 6 months, and Rs443.66bn for 12 months out of which it accepted Rs384.4bn for 3 months, Rs10bn for 6 months, and Rs61.9bn for 12 months.
In addition, the SBP picked up Rs101.09bn from the non-competitive auction, making the total amount accepted Rs557bn.
To note, SBP in the last auction held on September 20 sold MTBs worth Rs2.369 trillion against a target of Rs2.25tr.
Cut-off yields for 3, 6, and 12 months were 22.7898%, 22.8000%, and 22.9000%.
