The State Bank of Pakistan conducted an auction on Wednesday, in which it sold Treasury Bills worth Rs.1,101.364 billion.
All successful bids were for the 3 Month T-Bill as the few bids for for the 6 Month T-Bill were rejected while no bids were made for the 12 month T-Bill.
The Cut-Off yield for the 3M T-Bill remained the same at 6.2144 percent while the Weighted Average yield rose by a few basis points.
Earlier the SBP had received bids worth Rs. 1,285.012 Billion
There has been successful auction for the 12 Month T-Bill since Sep 27, 2017 and 9 of the previous 10 auctions have failed to get a single bid for the longest term T-Bill.
There have been no successful auctions for the 6 Month T-Bill since Dec 20, 2017 and while the current auction got Bids of Rs.50 Billion the previous 5 had not received any bids either.