The State Bank of Pakistan on Wednesday accepted bids of Rs 122.365 billion with realised value of Rs 116.727 billion, for sale of 3- and 6-month Government of Pakistan Market Treasury Bills (MTBs). The SBP conducted auction of 3-month, 6-month & 12-month MTBs through primary dealers from October 19-20, 2010.
Bids were opened on October 20, 2010, in which the SBP received overall Rs 228.565 billion worth tenders for the sale of 3-month, 6-month & 12-month MTBs. Bids for 3-month worth Rs 114.215 billion, for 6-month Rs 106.350 billion and 12-month T-bills Rs 8 billion. The State Bank accepted bids of Rs 122.365 billion against the target of Rs of 95 billion set by the central bank.
The central bank accepted Rs 56.765 billion worth bids for the sale of 3-months MTBs and set cut-off yield at 12.7933 percent. The 6-month T-bills yield was set at 13.1193 percent with Rs 65.6 billion. However, the central bank rejected all bids for the 12-month MTBs.
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