The federal government Wednesday raised Rs 239 billion through the auction for Market Treasury Bills (MTBs). The SBP, on August 19, 2015, conducted the auction for the sale of 3-month, 6-month and 12-month T-bills and received bids amounting to Rs 248.606 billion with a realised amount of Rs 234.042 billion. Most of the bids were received for 6- and 12-month bills on expected cut in key policy rate in the near future.
Bids amounting to Rs 9.589 billion were received for 3-month MTBs, Rs 34.68 billion for 6-month and 12-month T-bills fetched Rs 204.335 billion bids. The federal government accepted bids amounting to Rs 239.506 billion (realised value Rs 225.233) billion against the target of Rs 275 billion set for this auction. The cut-off yield on 3-month Treasury Bills remained stable at 6.9308 percent with accepted bids amounting to Rs 6.089 billion (Rs 5.99 billion realised value). The federal government borrowed Rs 30.581 billion with a realised amount of Rs 29.557 billion through the auction for 6-month MTBs at 6.9513 percent cut-off yield. Bids amounting to Rs 202.835 billion (Rs 189.682 billion realised value) billion were accepted for 12-month and its cut-off yield was fixed at 6.9710 percent The SBP has issued the following.

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                                                       (Rs In Millions)
                                Realised Value               Face Value
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03-Month                          9,438.649                   9,589.555
06-Month                         33,519.420                  34,681.200
12-Month                        191,084.515                 204,335.900
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Total                          234,042.584                  248,606.655
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Out of the above bids, the accepted bids are as under:

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Maturity       Cut - Off       Weighted       Realised             Face
Period           Yield       Avg. Yield         Amount            Value
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03-Month       6.9308           6.9308        5,993.949       6,089.555
06-Month       6.9513           6.9478       29,557.230      30,581.200
12-Month       6.9710           6.9536      189,682.265     202,835.900
Total                                       225,233.444     239,506.655
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