KARACHI: The State Bank of Pakistan announced that the government raised Rs716 billion on Wednesday by selling Treasury Bills (T-Bills), exceeding the auction target of Rs400 billion against a Rs1.04 trillion maturing amount.
The cut-off yields were slightly reduced, in contrast to expectations of a significant reduction as a result of falling interest rates.
The cut-off yields for three- and six-month tenors were lowered by five basis points to 15.29% and 14.34%, respectively. This marked the lowest level since April 2022.
The rate for year was kept unaltered at 13.73pc.
The 12-month tenor received the most money, Rs268.6 billion, followed by Rs232.6 billion for three months and Rs215 billion for six months.
According to the data, the 12-month papers received the highest bids, totaling Rs692.5 billion. The auction saw bids totaling Rs1.313 trillion.
