Government Raises Over Rs 1 Trillion Through T-bills
The government raised Rs 1.09 trillion through the sale of T-Bills and Rs 70 billion via Pakistan Investment Bonds on Wednesday.
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However, the rates at maturity for all maturities of Treasury bills remained unchanged.
The government reportedly raised Rs 388.7bn against offers of Rs749bn for three-month at 7.32 percent, as reported by local media.
The largest amount, 707.6 billion rupees, was raised for six-month T-bills at a rate of 7.6 percent. The bids for this maturity were 1.113 trillion rupees, indicating the current investment climate.
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It indicates that the investors were confident that the interest rate could fluctuate modestly during the next six months.
The lowest amount generated for 12-month paper was Rs 25 million at 7.67 percent. The total amount of bids received for auctions of all maturities of T-bills was 1,905 trillion rupees.
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