The cut-off yield and weighted average annual yields on the benchmark six-month Treasury Bills (T-bills) remains unchanged at 8.8142 percent, from the previous auction on October 11, the State Bank of Pakistan (SBP) said.
The central bank also kept the cut-off and weighted average yields on the three and 12-month papers unchanged at 8.6417 and 9.0046 percent, respectively. "The result is in line with market expectations, as no one was expecting a hike in the rates," said the dealers.
In the auction, the SBP sold Rs 7.66 billion ($126.49 million) of six-month bills, Rs 196.1 million ($3.24 million) of three-month bills, and Rs 13.76 billion ($227.21 million) of the 12-month paper. It received total bids worth Rs 23.2 billion, against a combined pre-auction target of Rs 20 billion. The settlement of the auction will take place on Thursday, as banks will remain closed from Monday to Wednesday on account of Eidul Fitr.
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