SBP sets auction target of Rs.4,900 Billion for Oct-Dec 2018

MG News | October 05, 2018 at 10:40 AM GMT+05:00

0:00

State Bank of Pakistan updated the Auction Calendar for MTB, PIB (Fixed and Floating) by releasing its Auction schedule for December 2018.

During the final quarter of 2018 the SBP aims to raise Rs 4,900 Billion against a maturing Amount of Rs 4,449.793 Billion.

**Oct - Dec 2018 Auction Target Summary**
Instrument	Auction Target *	Maturing Amount *
Treasury Bills	4,600.000	4,449.793
PIB (Fixed Rate)	150.000	48.341
PIB (Floating Rate)	150.000	-
Total	4,900.000	4,449.793

* Amount in Rs Billion

Of the maturing T-Bill amount, Rs. 3,242.497 billion is due in the second week of October. With the SBP raising the Policy rate by 100 basis points, it should see sufficient interest in the 3 month (84 Day) T-Bill to meet the auction target of Rs.3,000.00 Billion.

However, with reports that the IMF has recommended the interest rates be moved into double digits, the longer term instruments are unlikely to witness much participation.

There have been no successful auctions for the 1 year T-bill since Sep 27, 2017, the SBP has conducted 25 MTB auctions during the period and only received bids for the 1Y MTB on two occasions.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	152,740.38 147.44M	-1.01% -1551.88
ALLSHR	91,858.47 324.25M	-0.86% -800.10
KSE30	46,223.61 86.89M	-1.45% -681.25
KMI30	219,130.92 66.08M	-1.15% -2553.50
KMIALLSHR	59,625.28 139.61M	-0.93% -562.17
BKTi	42,104.46 39.09M	-2.02% -866.56
OGTi	32,077.87 10.13M	-1.27% -414.19

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	70,180.00	70,490.00 69,755.00	-180.00 -0.26%
BRENT CRUDE	106.44	107.23 106.29	-2.21 -2.03%
RICHARDS BAY COAL MONTHLY	99.40	0.00 0.00	-11.80 -10.61%
ROTTERDAM COAL MONTHLY	123.30	123.30 123.00	2.10 1.73%
USD RBD PALM OLEIN	1,083.50	1,083.50 1,083.50	0.00 0.00%
CRUDE OIL - WTI	93.59	94.80 93.40	-1.96 -2.05%
SUGAR #11 WORLD	15.42	15.49 14.76	0.62 4.19%