KARACHI: According to the State Bank of Pakistan, the government has sold securities worth Rs664 billion through the auction of T-bills. The auction saw a significant decline in overall profitability.
According to the report:
In the auction of 1-month bills, 333 billion rupees were received, while the cut-off was 11.25 percent, which is 90 basis points lower.
The 3-month bills were sold for 103 billion rupees; their cut-off was recorded at 11.24 percent.
72 billion rupees were received in the auction of 6-month bills; the cut-off was 11.28 percent.
Sales of 12-month bills reached Rs165 billion, and their cut-off stood at 11.35 percent.
The central bank said the decline reflects improved investor confidence and potential stability in the policy rate.
