The cut-off yields on Treasury Bills (T-Bills) went up by 6 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. 464.1 billion against a target of Rs. 800 billion and a maturity of Rs. 848 billion in the auction.
Official data indicates that the cut-off yield for the three-month T-Bills went up by 6 bps to 17.9996 percent from 17.9374 percent observed on January 25. The cut-off yield for the 06-month and 12-month T-Bills stood at 17.8400 percent and 17.9499 percent respectively.
The government raised Rs. 411.57 billion for the three-month paper in the competitive auction. The government raised Rs. 5 billion for the 06-month paper and raised Rs. 0.67 billion for the 12-month paper.
A further breakdown of the official numbers indicates that the government also raised Rs. 46.86 billion through non-competitive bids. This took the total amount raised during the auction to Rs. 464.10 billion.