KARACHI: The State Bank of Pakistan (SBP) has raised Rs211.65 billion in an auction of the market treasury bills (MTB).
The treasury bills were auctioned amid aggressive participation of banks to invest in risk-free investment. The markup rate for the sale of three maturities, ie, three-, six- and 12-month MTBs have come down to 5.8689 percent, 5.9070 percent and 5.9123 percent, respectively, as compared to the yields of 5.9017 percent, 5.9258 percent, and 5.9598 percent, respectively, in the auction held on June 22.
The banks offered Rs396.84 billion for the auction. The target for the auction was set at Rs200 billion. The SBP accepted Rs211.65 billion in the maturities, including Rs17.475 billion for three-month, Rs85.98 billion for six-month and Rs108.194 billion for 12-month maturities.
