Karachi August 21 2024: In today’s treasury bill auction, the government raised PKR 397 billion, significantly exceeding the target of PKR 150 billion, achieving 2.6 times the intended amount despite a decline in cut-off yields ranging from 74 to 148 basis points, with 3-month Cut-off yields are 201 basis points lower in comparison to policy rate of 19.5%.
The largest amount was raised through 6-month treasury bills, totaling PKR 171 billion, with cut-off yields for this paper declining by 101 basis points to 17.74 percent.
For 12-month treasury bills, the government secured PKR 147 billion, with yields dropping by 74 basis points to 17.00 percent.
Additionally, PKR 79 billion was raised in 3-month treasury bills, where yields fell by 148 basis points to 17.49 percent.
