SBP auctions t-bills worth Rs57.24 bn

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LAHORE: The State Bank of Pakistan (SBP) conducted an auction on Wednesday in which it sold Treasury Bills (T-bills) worth Rs57.243 billion for 3 months.

The central bank rejected all bids for the 6-month T-bills while no bids were received for the 12-month issue.

The pre-auction target was Rs250 billion against a maturing amount of Rs23.208 billion.

Cut off yield for the 3-month auction remained at 6.7596 per cent while the weighted average yield went up by 3 basis points to 6.7595 per cent.