The cut-off yields on Treasury Bills (T-Bills) went up by up to 40 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. 784 billion against a target of Rs. 650 billion and maturity of Rs. 697 billion in the auction.
Official data indicates that the cut-off yield for the 1-month and 3-month T-Bills went up by 30 bps.
The cut-off yield for the 6-month T-Bills went up by 37 bps to 10.32 percent from 9.94 percent observed on 21 January.
The government raised Rs. 308 billion for the three-month paper. It also raised Rs. 122 billion and Rs. 247 billion for the 6-month and 12-month T-Bills respectively.
A further breakdown of the official numbers indicates that the government also raised Rs. 309 billion through non-competitive bids. This took the total amount raised during the auction to Rs. 784 billion.
