State Bank of Pakistan through an auction of treasury bills raised around Rs 361 billion where most of the amount lifted was in three month-a short term paper.

The State Bank of Pakistan Wednesday conduction auction of treasury bills of three-month, six-month and one year treasury bills. The central bank received bids amounting to Rs 417 billion and SBP mopped up Rs 361 billion through auction.

SBP raised Rs 263 billion through sale of three month treasury bills at cut-off yield of 5.99 percent, Rs 95.6 billion through sale of six month treasury bills and for one-year the participation was low and SBP collected Rs 2.55 billion.