February 9, 2022 (MLN): The State Bank of Pakistan (SBP) conducted an auction on Wednesday in which it sold Market Treasury Bills (MTBs) worth Rs592 billion, against its target of Rs500bn while it received bids worth Rs1.04 trillion. 

The cut-off yields for 6 and 12 months saw a decline of 3, and 5 basis points to stand at 10.66%, and 10.88%, respectively, whereas, the cut-off yields for 3 months remained at 10.30%.

The total amount raised for 3 months T-bills was Rs312bn, Rs193bn for 6-months, and Rs85.37bn for 12 months MTBs.

In addition, the SBP picked up Rs509.19bn from the competitive auction and Rs83.07bn from non-competitive bids, making the total amount accepted Rs592.26bn.

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