Karachi November 15 2023: On November 5 2023 the State Bank of Pakistan (SBP) raised a total of PKR 1,161 billion through the auction of market treasury bills at lower than the policy rate.
Cut-off yields drop for 3 Month, 6 Month and 12 Month papers.
Majority of the acceptance remained in 12 Month tenure as investors believe interest rates to drop.
The government received total bids worth PKR 4,002 billion and the highest bids of PKR 2,604 billion for 12 Month T-bills followed by PKR 1,045 billion for 3 Months and PKR 353 billion for 6 Months.
Cut-off yields decreased by 56 basis points for 3 Month T-Bills, 38 basis points for 6-Months and 48 basis points for 12 Month papers.
The cut-off yield for 3 Months, 6 Months and 12 Months paper settled at 21.2878 percent, 21.4583 and 21.4334 percent, respectively.
Government raise an amount of PKR 596 billion in 12 Months followed by PKR 473 billion in 3 Months and PKR 92 billion in 6 Months.
The government raised PKR 1,161 billion in the latest auction against a target of PKR 1,500 billion.