The cut-off yields on Treasury Bills (T-Bills) went up by 94 basis points (bps) in the auction of the paper held on Wednesday.
According to the data released by the State Bank of Pakistan (SBP), the government raised Rs. 852 billion against a target of Rs. 650 billion and a maturity of Rs. 587 billion in the auction.
Official data indicates that the cut-off yield for the three-month T-Bills went up by 96 bps to 17.9374 percent from 16.999 percent observed on January 11.
The government raised Rs. 784 billion for the three-month paper in the competitive auction. The government rejected all bids for the 06-month and 12-month T-Bills.
A further breakdown of the official numbers indicates that the government also raised Rs. 68 billion through non-competitive bids. This took the total amount raised during the auction to Rs. 852 billion.
