SBP raises Rs693bn via T-bills auction, yields soar up to 55bps

MG News | March 23, 2022 at 01:19 AM GMT+05:00

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March 23, 2022 (MLN): The cut-off yields of T-bills were increased by up to 55 basis points in the auction conducted by the State Bank of Pakistan (SBP) on Tuesday.

The government raised Rs693 billion through the auction of three, six, and twelve-month T-bills against the target of Rs800bn ad maturity of Rs793bn.

The cut-off yields for 3-month, 6-month, and 12-month T-bills saw an increase of 55, 40, and 40 basis points to stand at 12%, 12.5%, and 12.7%, respectively.

The market had offered Rs893billion, out of which the government accepted bids amounting to Rs693bn.

SBP received bids worth Rs308bn for 3-month T-bills, Rs291bn for 6-month, and Rs294bn for 12-month.

The total amount raised for 3-month T-bills was Rs283.29bn, Rs235.4bn for 6-month, and Rs174.81bn for 12-month T-bills.

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