Islamabad: The State Bank of Pakistan (SBP) has shared that the government has successfully raised PKR 1,092 billion against an initial target of PKR 900 billion, with a maturity of PKR 783 billion, according to news published on October 18.
In the latest Treasury Bills (T-Bills) auction conducted on Wednesday, the SBP reported a substantial decline in the cut-off yields, with a significant oversubscription. The official figures show that the cut-off yield for the 3-month T-Bills decreased by 30 basis points (bps) to 22.2000%. Similarly, the 6-month T-Bills witnessed a substantial drop of 45 bps in their cut-off yield, settling at 22.3999%. For the 12-month T-Bills, the cut-off yield declined by 44 bps to reach 22.4000%.
During the competitive auction, the government managed to raise PKR 39 billion for the three-month T-Bills, while the 6-month and 12-month T-Bills yielded PKR 12 billion and PKR 882 billion, respectively. Further analysis of the official data shows that the government also secured PKR 159 billion through non-competitive bids, bringing the total amount raised in the auction to PKR 1,092 billion.
Iqra holds BS in International Relations and is passionate about writing engaging content on trending real estate topics. When not working, she is either spending time with family, shopping, or discussing shows & movies.
