Govt sells T-bills of Rs83.2b

The government on Wednesday raised a huge amount of Rs83.2 billion through auctions of Treasury bills with slight change in the cut-off yield of benchmark 6-month tenure. The government had set target of 75 billion rupees for the auction of 15-days T-bills. For which, offers of 141.96 billion rupees were received. The biggest attraction was 3-month t-bills as banks invested Rs67.761 billion for this tenure at the unchanged cut-off yield of 12.51 per cent. The trend has changed during last three months as most of the banks preferred to invest in shortest tenure, while they had been investing in 12-month t-bills.