KARACHI: The government has accepted bids of Rs 662 billion against the target of Rs 650 billion and maturity of Rs 682 billion in the T-bills auction on Wednesday. In the T-bills auction, the cut-off yields were down 2-14bps.

Majority of bids were received in 3-month tenors with bids received worth Rs 1.1 trillion out of the total Rs 1.9 trillion bids. In the 3-month tenor, total participation stood at Rs 1,167 billion and the government raised Rs 535 billion against the target of Rs 250 billion. The cut-off yields stood at 10.45 percent, down 14bps from 10.59 percent on December 29, 2021.

In the 6-month tenor, total participation was Rs 647 billion and the government raised Rs 107 billion against the target of Rs 250 billion. The cut-off yields stood at 11.37 percent, down 8bps from 11.45 percent on December 29, 2021.

In the 12-month papers, total participation was Rs 129 billion and the government raised Rs 20 billion against the target of Rs150 billion. The cut-off yields stood at 11.49 percent, down 2bps from 11.51 percent on December 29, 2021.

Copyright Business Recorder, 2022