September 22, 2022 (MLN): The State Bank of Pakistan (SBP) raised Rs1,399 billion on Wednesday, against the target of Rs1,500 billion through the auction of three, six, and twelve-month T-bills.
According to the auction result, the cut-off yields for six, and twelve-month papers increased by 15 basis points (bps) and 1 bps to 15.9998% and 15.99% respectively. While the cut-off yield for 3-month papers remained unchanged at 15.9999%.
The market had offered Rs2,479bn, out of which the government accepted bids amounting to Rs1,399bn, against the target of Rs1,500bn and the maturity of Rs1,968bn.
The highest participation was seen in 3-month bonds as SBP received bids worth Rs1,850 billion for 3-month, Rs290 billion for 6-month, and Rs339 billion for 12-month T-bills.
The SBP accepted bids worth Rs1,273 billion for 3-month papers, Rs80 billion for 6-month papers and Rs46 billion for 12-month bonds.