KARACHI: The State Bank of Pakistan said that the government raised Rs716 billion on Wednesday by selling treasury bills, or T-bills, surpassing the auction objective of Rs400 billion against a maturing value of Rs1.04 trillion.
In the wake of declining interest rates, there was a minor reduction in the cut-off yields, which was unexpected.
The three- and six-month tenor cut-off rates dropped by five basis points to 15.29 percent and 14.34 percent, respectively, the lowest levels since April 2022.
The 12-month rate remained constant at 13.73 percent.
The largest sum, approved for the 12-month tenor, was Rs268.6 billion; the three-month and six-month tenors, respectively, were Rs232.6 billion and Rs215 billion.
According to the data, the 12-month papers fetched the most bids, totaling Rs692.5 billion. The sale brought in a total of Rs1.313tr in bids.
