July 24, 2023 (MLN): The State Bank of Pakistan(SBP) conducted an auction on Monday in which it sold Market Treasury Bills (MTBs) worth Rs621.33 billion for 3, 6 and 12 months.

Auction target was Rs900 billion against a maturing amount of Rs651bn.

Cut off yield for 3, 6 and 12 months were 22.9788, 22.9201 and 22.9991%

Total amount offered was Rs1,149.08bn out of which the SBP accepted Rs584.98bn. The SBP received bids worth Rs793.27bn for 3 months, Rs161.20bn for 6 months and Rs194.62bn for 12 months out of which it accepted Rs542.97 billion, Rs6bn and Rs36.02bn respectively.

In addition the SBP picked up Rs36.35bn from the non-competitive auction, making the total amount accepted Rs621.33bn.     

The SBP also picked up Rs287.65bn through the sale of floating-rate PIBs. The central bank picked up Rs180.32bn for 5 years, Rs7.325bn for 2 years, and Rs100bn for 3 years. No bids were received for the 10-year PIB.

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Posted on: 2023-07-24T22:48:33+05:00