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T-Bills raised to Rs1.52 Trillion in auction

bySidra Butt
March 25, 2021
in Business, Economy, Finance, Main, New
Reading Time: 1 min read
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Govt raises Rs1.52 trillion
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On Wednesday, the government raised over Rs1.519 trillion through the auction of the market treasury bills, but most of the amount was borrowed from the the three month tenure.

The government received the highest bids of Rs1,538 billion for three-month T-bills and accepted Rs1,130.68bn. The cut-off yield on this paper was reduced by 5 basis points to 7.53 per cent compared to 7.58pc in the previous auction held on March 10, the State Bank of Pakistan reported.

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The cut-off yield on benchmark six-month T-bills remained unchanged at 7.8pc while the government raised Rs388.9bn. The bids for this tenure were Rs468.08bn.

All bids (Rs62.8bn) for 12-month were rejected. The total bids for T-bills for this auction were Rs2,042.929bn while the government accepted Rs1,519.582bn.

The auction trend shows that the banks were over-liquid as they were willing to park maximum liquidity in government papers. At the same time, both the government and the investors were on the same page for the short-term three-month T-bill. The investors were cautious over the interest rate that may change upward in the coming months depending upon the intensity of inflationary pressures.

Tags: AuctionBidGovernmentT-Bills
Sidra Butt

Sidra Butt

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