SBP Conducted an auction on Wednesday in which it sold T-Bills worth Rs. 9.728 Billion for 3 months.
No bids were made for 6 & 12 months.
Auction Target was Rs.350 Billion against a maturing amount of Rs.361.054 Billion.
The competitive bids for the 3 month T-Bill amounted to Rs.1.250 Billion out of which SBP accepted Rs.750 Million keeping the Cut off Yield unchanged at 7.75 percent.
The non-competitive bids fetched another 8.978 Billion making the total size of the auction Rs.9.728 Billion.
The lack of participation was due to the upcoming Monetary Policy decision by the SBP and the market expectation of the policy rate being raised by 50 to 100 basis points.