Govt raises Rs498b via T-bills as yields rise
The State Bank of Pakistan raised Rs498 billion through Treasury bills as yields increased across all tenors. Meanwhile, local gold prices dropped despite a significant rally in international markets.
Why it matters
Highlights the economic volatility and monetary policy adjustments currently impacting the Pakistani financial market.
--> Home Business Govt raises Rs498b via T-bills as yields rise Gold falls Rs3,700/tola despite global surge to multi-month highs
facebook --> twitter --> whatsup --> linkded --> email MORE (3) Messenger Whatsapp --> KARACHI: The State Bank of Pakistan (SBP) on Wednesday raised Rs498 billion in the Market Treasury Bills auction against the target of Rs500 billion, with cut-off yields rising across all tenors.
The central bank accepted Rs52 billion in one-month paper at a cut-off yield of 11.47%, up 12 basis points from the previous auction, while for three-month paper, Rs340 billion was accepted at 11.65%, a rise of 13 basis points. Six-month bills fetched Rs44 billion at 11.80%, higher by 10 basis points, and 12-month paper attracted Rs62 billion at 11.99%, up just four basis points. The total bids received in the auction amounted to approximately Rs2.1 trillion.
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