The State Bank of Pakistan (SBP) raised Rs. 1,477 billion through the latest treasury bills auction, significantly exceeding the set target of Rs. 400 billion. According to the State Bank, demand for Pakistan treasury bills remained higher than expected.
Treasury Bills Auction Details
In the auction:
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One-month treasury bills generated Rs. 580 billion
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Three-month bills raised Rs. 318 billion
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Six-month bills secured Rs. 170 billion
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One-year treasury bills Pakistan brought in Rs. 409 billion
This makes the total collection Rs. 1,477 billion against the Rs. 400 billion target set by the central bank.
Pakistan one-month treasury bills rate went down by 15 basis points. The auction however did not have any changes in the profit rates of three month, 6 month or one year treasury bills.
One of the most important tools of short-term government borrowing and liquidity management of the Pakistani financial system is the State Bank treasury bills auction. The recent findings indicate a high level of investor activity on the treasury bills market in Pakistan.
