MTB Auction Result: SBP Sells T-Bills worth Rs. 1,334.16 Billion

The State Bank of Pakistan Conducted an Auction on Wednesday in which it sold Treasury Bill worth Rs. 1,334.16 Billion for 3 & 6 months. No bids were made for the longer term 1 year MTB.

The cut off yield rose by 50 basis points to 6.7596 percent for 3m and 6.8545 percent for 6m

Total amount offered for 3m was Rs.1,402.799 Billion out of which SBP accepted Rs.1,311.09 Billion, while of the Rs.7.250 Billion offered for the 6m T-Bill the SBP accepted Rs.1.50 Billion

The Weighted average yield of the 6M T-Bill will serve as the new benchmark for the second issue of the floating rate PIB, it was up by 48 basis points to 6.8322 percent.

The total amount issued, including non competitive bids, was Rs.1,334.16 Billion.