Govt surpasses T-bills sale target in 2nd bid

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Govt surpasses T-bills sale target in 2nd bid

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The government has sold T-bills more than the target in second bid in new FY.

27 July,2011 08:05 pm

According to the State Bank of Pakistan, the government has set a target of Rs 120 billion T-Bills, but the dealers offered bids of Rs 159.54 billion.In the second bid of new fiscal year, T-bills of Rs 122 billion were sold for 3,6 and 12 months respectively. Cut-off yield remained at 13.53, 13.78 and 13.92 percent, with an increase of three and two basis points.