The State Bank of Pakistan conducted an auction on Wednesday in which it sold T-Bills worth Rs. 3,237.74 Billion for 3 & 6 Months. No bids were received for the 12 Month T-Bill.

Auction Target was Rs.1,500 Billion against a maturing amount of Rs.1,444.626 Billion.

In the first auction since hiking the policy rate by 100 basis points, SBP received bids worth Rs.3,526.60 Billion out of which only Rs.26 Billion was bid for the 6month T-Bill while the remainder was for 3 months.

Cut Off Yields were 7.75% and 7.8526% for 3 & 6 Months.

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