Karachi November 2 2022: On November 2, 2022, SBP raised PKR 509 billion through the auction of market treasury bills.
The government received total bids worth PKR 997 billion and the highest bids of PKR 705 billion for 3 Month T-bills followed by PKR 169 billion for 12 Months and PKR 122 billion for 6 Months.
Cut-off yields decreased by 0-1 basis points as Finance minister indicates lower interest rates as he expects inflation to fall to 12-14 percent by end of this fiscal year on strengthening of Pakistan Rupee.
The cut-off yield for 3 Months, 6 Months, and 12 Months of paper settled at 15.71 percent, 15.7433 percent, and 15.7399 percent, respectively.
SBP raised an amount of PKR 443 billion in 3 Months, PKR 13 billion in 6 Month and PKR 52 billion in 12 month paper, respectively.
The cut-off yields for 3 Months and 12 Months decreased by 1 basis points, while remained unchanged for 6 Months paper.
The government raised PKR 509 billion in the latest auction against a target of PKR 600 billion.