Karachi December 28 2022: On December 28, 2022, SBP raised PKR 359 billion through the auction of market treasury bills against target of PKR 650 Billion, according to information shared by the central bank.
In the previous T-bill auction government was able to raise PKR 1.6 trillion with majority in 3 months paper even at all time high rates. Even in this auction, majority of the amount raised is in 3 Months paper as uncertainty continued after unexpected rate hike by Central Bank in the previous monetary policy to 23 high of 16 percent.
SBP raised an amount of PKR 345 billion in 3 Months, PKR 5 billion in 6 Month and PKR 9 billion in 12 month paper, respectively
The government received total bids worth PKR 662 billion and the highest bids of PKR 403 billion for 3 Month T-bills followed by PKR 141 billion for 6 Months and PKR 117 billion for 12 Months.
The cut-off yield for 3 Months, 6 Months, and 12 Months of paper settled at 16.9998 percent, 16.8255 percent, and 16.85 percent, respectively.
The cut-off yields for 3 Months remained unchanged while decreased for 6 Months by 7 basis points and increased by 5 basis points for 12 Months.
The government raised PKR 359 billion in the latest auction against a target of PKR 650 billion.