Govt raises Rs716bn through T-bills

MG News | October 16, 2024 at 07:28 PM GMT+05:00

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October 16, 2024 (MLN):The State Bank of Pakistan (SBP) conducted an auction on Wednesday in which it sold Market Treasury Bills (MTBs) worth Rs716.27 billion.

The target was to raise Rs400bn while the maturity amount was Rs1.038 trillion.

Cut off yields remained largely stable at 15.2994% (0bps) for 3 months, 14.3430% (-5bps) for 6 months, and 13.7350% (0bps) for 12 months.

Read: T-bills continue to attract foreign capital

Total amount offered was Rs1.31tr, with the SBP receiving bids worth Rs312.91bn for 3 months, Rs308.01bn for 6 months, and Rs692.58bn for 12 months.

Out of this, SBP accepted Rs190.69bn for 3 months, Rs188.76bn for 6 months, and Rs238.78bn for 12 months.

In addition, the central bank picked up Rs97.97bn from the non-competitive auction, making the total amount accepted Rs716.2bn.

To note, the central bank in the last auction held on October 02, 2024 sold MTBs worth Rs244.45bn against a target of Rs250bn.

Cut-off yields for 6, and 12 months were 14.398%, and 13.735%, while bids were rejected for 3 month papers.

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