State Bank of Pakistan released the Monthly Treasury Bills results today accepting bids worth Rupees 2,871.635 million against the bid amount of Rs. 136,180.848 million at a weighted average yield of 6.2591 percent.

The bids were accepted at the lowest rates despite a large number of bids received in yields above 6.2661 percent.

State Bank of Pakistan received bids worth Rs 138,263 million versus the SBP target of 650 billion against maturities worth Rs. 586 billion.

Lower bids from financial institutions came as a result of expectation of an increase in interest rates.