SBP raises Rs679.89bn via T-bills auction, yields soar up to 80bps

MG News | April 06, 2022 at 09:10 PM GMT+05:00

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April 06, 2022 (MLN): The cut-off yields on treasury bills were increased by up to 80 basis points in the auction conducted by the State Bank of Pakistan (SBP) on Wednesday.

The government raised Rs679.89 billion through the auction of three, six, and 12-month T-bills while the target was Rs600bn.

The cut-off yields for 3, 6, and 12 months saw an increase of 80, 75, and 60 basis points to stand at 12.80%, 13.25%, and 13.30%, respectively.

The total amount raised for 3-month T-bills was Rs373.31bn, Rs148.28bn for 6-month, and Rs123.46bn for 12-month MTBs.

In addition, the SBP picked up Rs645.05bn from the competitive auction and Rs34.84bn from non-competitive bids, making the total amount accepted Rs679.89bn.

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