Govt raises Rs444bn through T-bills auction

MG News | May 17, 2023 at 10:16 PM GMT+05:00
May 17, 2023 (MLN): The government on Wednesday raised Rs444 billion from the auction of Market Treasury Bills (MTBs), against a target of Rs375bn, result data published by the State Bank of Pakistan (SBP) showed.
The cut-off yield for 3-month and 12-month paper remained unchanged at 21.99% while the yield on 6-month paper edged lower by five basis points (bps) to 21.91%.
An amount of Rs615bn was offered during the auction, out of which the SBP accepted Rs444bn. Of which, the SBP received bids worth Rs428.24bn for 3 months, Rs5.30bn for 6 months, and Rs10.93bn for 12 months.
The stability in the cut-off yields in 3 and 6-month bills is primarily attributed to the lower-than-expected hike in interest rate.
It is pertinent to mention that the market participants anticipated the hike of at least 200 bps to 22% whereas the Monetary Policy Committee (MPC) of the SBP in its meeting held on April 04, 2023, decided to raise the policy rate by only 100 bps to 21%.
Copyright Mettis Link News
Related News
Name | Price/Vol | %Chg/NChg |
---|---|---|
KSE100 | 139,590.69 205.47M | 0.85% 1178.44 |
ALLSHR | 86,481.70 382.26M | 0.91% 778.74 |
KSE30 | 42,685.40 85.91M | 1.02% 430.55 |
KMI30 | 196,868.01 87.47M | 1.42% 2758.42 |
KMIALLSHR | 57,410.64 164.67M | 1.23% 696.98 |
BKTi | 37,900.81 14.67M | 0.18% 69.47 |
OGTi | 28,318.92 36.65M | 3.20% 878.29 |
Symbol | Bid/Ask | High/Low |
---|
Name | Last | High/Low | Chg/%Chg |
---|---|---|---|
BITCOIN FUTURES | 119,490.00 | 119,785.00 117,905.00 | 1870.00 1.59% |
BRENT CRUDE | 72.33 | 72.82 72.16 | -0.91 -1.24% |
RICHARDS BAY COAL MONTHLY | 96.50 | 0.00 0.00 | 2.20 2.33% |
ROTTERDAM COAL MONTHLY | 104.50 | 104.50 104.50 | -0.30 -0.29% |
USD RBD PALM OLEIN | 998.50 | 998.50 998.50 | 0.00 0.00% |
CRUDE OIL - WTI | 69.95 | 70.41 69.80 | -0.05 -0.07% |
SUGAR #11 WORLD | 16.49 | 16.52 16.45 | 0.04 0.24% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
Name | Last | Chg/%Chg |
---|
Name | Last | Chg/%Chg |
---|