close
Advertisement
Can't connect right now! retry

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!
February 25, 2021

Govt raises Rs760bln via MTBs

Business

February 25, 2021

KARACHI: The government on Wednesday raised Rs760 billion through the auction of market treasury bills, with the yields increasing on shorter tenor papers. The raised amount was lower than the pre-auction target of Rs850 billion.

The cut-off yield on the three-month paper rose seven basis points (bps) to 7.25 percent from 7.18 percent in the previous auction.

The yield on the six-month paper also increased by six bps to 7.55 percent from 7.49 percent.

However, bids of the 12-month paper were rejected by the government.

The central bank said it sold Rs241.6 billion worth of three-month paper and Rs518.2 billion of the six-month paper.

The participation behaviour of the latest auction showed investors heavily participated in the six-month paper. Earlier, in the previous auction, their participation was seen in the shortest tenor, three months T-bill.

Analysts said the recent auction showed investors expect the interest rates to remain stable in the near-term.