In the paper auction held on Wednesday, the cut-off yields on Treasury Bills (T-Bills) decreased by 5 basis points (bps).

In the auction, the government raised Rs. 444 billion versus a goal of Rs. 375 billion and a maturity of Rs. 296 billion, according to data made public by the State Bank of Pakistan (SBP).

The cut-off yield for the 3-month and 12-month T-Bills stayed constant, according to official statistics. The 6-month T-Bill cut-off yield decreased by 5 basis points to 21.9157 percent from 21.9616 percent on May 3.

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In the competitive auction, the government raised Rs. 334 billion for the three-month paper. Additionally, it raised Rs. 2 billion for the 6-month T-Bill and Rs. 7 billion for the 12-month T-Bill. According to a detailed breakdown of the reported figures, the government also received non-competitive bids for Rs. 101 billion. The auction’s entire proceeds now stand at Rs. 444 billion.