LAHORE: The State Bank of Pakistan (SBP) conducted an auction on Wednesday in which it sold Treasury Bills (T-Bills) worth Rs1,334.16 billion for 3 and 6 months. No bids were made for the longer term 1-year market treasury bills (MTBs).
The cut-off yield rose by 50 basis points to 6.7596 per cent for 3 months and 6.8545 per cent for 6 months.
Total amount offered for 3 months was Rs1,402.799 billion out of which SBP accepted Rs1,311.09 billion, while of the Rs7.250 billion offered for the 6-month T-Bill the SBP accepted Rs1.50 billion.
The weighted average yield of the 6-month T-Bill will serve as the new benchmark for the second issue of the floating rate PIB, it was up by 48 basis points to 6.8322 per cent.
The total amount issued, including non-competitive bids, stood at Rs1,334.16 billion.
