Govt increases T-bills rates by 21bps

This was the second increase in basis points since the one in the policy rate by 25bps to 7.25pc

The government has increased the cutoff yield on treasury bills (T-bills) for three and six months by 21 basis points in the auction held on Wednesday, a report by Dawn stated on the same day.

The government raised Rs691.3 billion through the auction of T-bills against its target of Rs900bn. The amount raised for the three-months T-bills was Rs503.1bn while Rs81.3bn was raised for the six-months. All bids for 12-months papers were rejected. An amount of Rs106.8bn was raised through non-competitive bids.

The cut-off yield on both three and six months T-bill were increased by 21 basis points to 7.84 per cent and 8.19pc, respectively. This was the second increase in the rate of T-bills since the increase in the policy rate by 25 basis points to 7.25pc.

Rs62.4bn raised through PIB auction: The government raised Rs62.4bn through the Pakistan Investment Bonds (PIB) auction on Wednesday. It sold PIBs for two-years for Rs46bn and Rs14bn for three-years. An amount of Rs2.4bn was raised through non-competitive bids.

Monitoring Desk
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