November 15, 2023 (MLN):The State Bank of Pakistan (SBP) conducted an auction on Wednesday in which it sold Market Treasury Bills (MTBs) worth Rs1.161 trillion for 3,6 and 12 months against a target of Rs1.5tr.
Cut off yields for 3, 6, and 12 months were 21.4997%, 21.4999%, and 21.5001%.
This means that the cut-off yields for 3, 6, and 12 months fell by 45bps, 49bps, and 50bps respectively.
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Total amount offered was Rs4.004tr out of which the SBP accepted Rs1.161tr.
The SBP received bids worth Rs1.05tr for 3 months, Rs353.73bn for 6 months, and Rs2.6tr for 12 months out of which it accepted Rs408.76bn for 3 months, Rs40.75bn for 6 months, and Rs529.08bn for 12 months.
In addition, the SBP picked up Rs182.19bn from the non-competitive auction, making the total amount accepted Rs1.161.
To note, the 12-months participation saw a new high for the third consecutive auction.
The bid-to-cover ratio, which shows the amount of bids received versus the amount sold, dropped to 3.45.
The central bank in the last auction held on November 01 had sold MTBs worth Rs1.15tr against a target of Rs975bn.
Cut-off yields for 3, 6, and 12 months were 21.9495%, 21.9898%, and 21.9999%.
Copyright Mettis Link News
Posted on:2023-11-15T18:51:36+05:00
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