Record precipitation was witnessed in the auction of government of Pakistan Market Treasury Bills (MTBs), as overall about Rs 300 billion worth bids were received for sale of 3-, 6- and 12-month T-bills. The SBP had invited the bids through Primary Dealers from January 25-26, 2011.
Bids were opened at 1130 hours on February 9, 2011 and in response of the tender the SBP received Rs 299.784 billion bids with realised value of Rs 285.553 billion for the sale of 3-, 6- and 12-month T-bills. The State Bank accepted Rs 157.734 billion worth bids with realised amount of Rs 148.746 billion for the auction of 3-, 6- and 12-month MTBs.
Major participation was witnessed in the 3-month T-bills, which reflects that the banks were interested in investing in short-term period. The SBP received Rs 192.973 billion worth bids for three months bills, Rs 79,461 billion for six months and Rs 27.35 billion for 12 months. Accepting Rs 68.723 billion worth bids, the central bank set cut-off yield of three-month at 13.5313 percent down by 14 basis points. The six-month T-bills yield decreased by 2bps to 13.6899 percent with Rs 67.461 billion bids and for the 12-month, the cut-off yield was set at 13.8554 percent with Rs 21.55 billion.
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