KARACHI: The State Bank of Pakistan (SBP) has raised Rs2,107.51 billion in an auction of Market Treasury Bills (MTBs) held on Wednesday.
The central bank received bids of Rs2,191.8 billion for 3 and six months securities papers at face value of Rs2,245 billion.
However, the SBP accepted the bids 2,107.51 billion at face value of Rs2,158.6 billion for both the maturities.
The commercial banks were remained interested in investing short-term maturities of three-month. The SBP accepted bids worth Rs2,106.32 billion in three-month MTBs at face value of Rs2,157.35 billion against the offer of Rs2,184.86 billion at face value of Rs2,237.8 billion.
The central bank also accepted bids of six-month MTBs worth Rs1.187 billion at face value of Rs1.25 billion against the offer of Rs6.93 billion at face value of Rs7.3 billion.
The cut-off yield in three- and six-month maturities were at 10.55 percent and 10.59 percent, respectively.
The SBP set Rs100 billion target for the sale of MTB at the auction.