KARACHI: The State Bank of Pakistan (SBP) has reported that the government raised Rs323.4 billion through T-bills, against the auction target of Rs350 billion. The SBP conducted the auction for the sale of 3-month, 6-month and 12-month Government of Pakistan Market Treasury Bills (MTBs) and received bids amounting to over Rs1,632 billion. Out of the received bids, the federal government raised Rs128.6 billion from 3-month bids, Rs102.3 billion from 6-month T-bills and Rs92.5 billion from 12-month T-bills. The cut-off yields for all bids decreased, with the cut-off yield for 3-month bids at 12.73pc down from 13.39pc. The yield for 6-month bids was at 12.51pc, down from 13.34pc, and 12pc for 12-month bids, down from 13.33pc.

Source: Pakistan Today March 11, 2020 17:03 UTC