November 29, 2023 (MLN): The State Bank of Pakistan (SBP) conducted an auction on Wednesday in which it sold Market Treasury Bills (MTBs) worth Rs1.165 trillion for 3,6 and 12 months against a target of Rs900bn.
Cut off yields for 3, 6, and 12 months were 21.4499%, 21.4299%, and 21.4300%.
This means that the cut-off yields for 3, 6, and 12 months fell by 5bps, 7bps, and 7bps respectively.
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Total amount offered was Rs2.042tr out of which the SBP accepted Rs1.165tr.
The SBP received bids worth Rs522.49bn for 3 months, Rs224.7bn for 6 months, and Rs1.29tr for 12 months out of which it accepted Rs325bn for 3 months, Rs52bn fpr 6 months, and Rs651bn for 12 months.
In addition, the SBP picked up Rs137bn from the non-competitive auction, making the total amount accepted Rs1.165.
The bid-to-cover ratio, which shows the amount of bids received versus the amount sold, dropped to 1.75 as against 3.45 in the previous auction.
To note, the central bank in the last auction held on November 15 sold MTBs worth Rs1.16tr against a target of Rs900bn.
Cut-off yields for 3, 6, and 12 months were 21.4997%, 21.4999%, and 21.5001%.
Copyright Mettis Link News
Posted on:2023-11-29T18:45:28+05:00
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