SBP rejects all bids in T-bill auction

News Image

MG News | September 18, 2024 at 06:00 PM GMT+05:00

0:00

September 18, 2024 (MLN): The State Bank of Pakistan (SBP) conducted an auction for Market Treasury Bills (MTBs) on Wednesday but unexpectedly rejected all the bids.

The target was to raise Rs475bn while the maturity amount was Rs113bn.

Total amount offered was Rs1.43 trillion, with the SBP receiving bids worth Rs221.54bn for 3 months, Rs278.62bn for 6 months, and Rs925.13bn for 12 months.

The range of rates at which bids were offered were 16.90%-17.75% for 3 month papers, 16.60%-18.00% for six month papers, and 15.98%-17.50% for the 12 month T-bills.

According to the bid pattern, if SBP had decided to raise the target amount, yields would have fallen by 29-101bps for 3-12 month tenors.

Last week, SBP lowered its key policy rate by 200 basis points to 17.5%. The reduction was the third in a row, bringing the total decrease since June 2024 to 450bps as a slowdown in inflation give policymakers enough room to continue monetary easing in a bid to spur growth.

To note, the central bank in the last auction held on September 04, 2024 sold MTBs worth Rs835bn against a target of Rs700bn.

Cut-off yields for 3, 6, and 12 months were 17.4799%, 17.7399%, and 16.9989%.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 138,412.25
167.69M
0.32%
447.43
ALLSHR 85,702.96
423.92M
0.15%
131.52
KSE30 42,254.84
82.09M
0.43%
180.24
KMI30 194,109.59
84.37M
0.15%
281.36
KMIALLSHR 56,713.67
217.03M
0.03%
16.37
BKTi 37,831.34
13.04M
1.62%
603.62
OGTi 27,440.63
3.93M
-0.09%
-23.70
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,545.00 119,440.00
118,260.00
250.00
0.21%
BRENT CRUDE 72.25 73.17
71.75
-0.26
-0.36%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 68.96 69.79
68.45
-0.25
-0.36%
SUGAR #11 WORLD 16.43 16.58
16.40
-0.16
-0.96%

Chart of the Day


Latest News
July 30, 2025 at 05:17 PM GMT+05:00

Pakistan consumer confidence falls to 40.1 points in July


July 30, 2025 at 05:03 PM GMT+05:00

PKR rises by 10 paisa against USD


July 30, 2025 at 04:11 PM GMT+05:00

PSX Closing Bell: You Can’t Always Get What You Want


July 30, 2025 at 03:47 PM GMT+05:00

CCP resolves 223 cases, recovers Rs360m



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg