Karachi December 29, 2021: SBP raised PKR 1,265 billion through auction of market treasury bills at slightly lower rates in comparison to previous auction as per data released by State Bank of Pakistan.
The primary reason of lower cut off yields is injection of more than PKR 1,500 Billion through Open Market Operations for 63 days in two different offering at rate of 9.9 percent and 9.85 percent.
The cut off yields are way two high in comparison to secondary market.
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The government received total bids of worth PKR 1,869 billion and the highest bids of PKR 983 billion for 3 Month T-bills followed by PKR 610 billion for 6 Months and PKR 276 billion for 12 Months.
The cut-off yields for 3 Months paper decreased by 19 basis points at 10.5902 percent. The cut-off yield for 6 months settled at 11.4501 percent which was 5bps lower than cut-off of last auction.
For 12 months, cut-off yields remained unchanged at 11.5100 percent.
The government raised PKR 1,265 billion in latest auction against target of PKR 1,200 billion.
