Islamabad, Dec 25: In a Treasury Bills (T-Bills) auction held on Tuesday, the cut-off yields saw an increase of up to 22 basis points. According to data from the State Bank of Pakistan (SBP), the government raised Rs. 913 billion, falling short of the initial target of Rs. 1,200 billion. Total participation in the auction amounted to Rs. 1,694 billion.
The cut-off yield for the three-month T-Bills increased by 22 basis points, reaching 11.9999%, the same rate observed on November 11. The six-month T-Bills remained unchanged at 11.99%, while the yield on the 12-month T-Bills rose by 7 basis points, reaching 12.2977% compared to 12.2999% in the previous auction.
In terms of proceeds, the government raised Rs. 367 billion for the three-month paper, surpassing the target of Rs. 300 billion. For the six-month paper, Rs. 201 billion was raised, slightly below the target of Rs. 300 billion. The government also raised Rs. 259 billion from the 12-month bonds, which was lower than the targeted Rs. 600 billion.The total raised through competitive bids was Rs. 827 billion, while Rs. 87 billion was raised through non-competitive bids, resulting in a total of Rs. 913 billion raised in the auction.
