SBP rejects all bids in T-bill Auction – Alfalah Securities Limited

Karachi, December 27, 2012 (PPI-OT): State Bank of Pakistan (SBP) has rejected all bids worth of PKR 83.8 billion on Wednesday’s treasury bills auction.

According to Alfalah Securities Limited, the bids for 3M papers were received worth of PKR 44 billion, for 6M banks offered PKR 35 billion and PKR 5 billion for 12M T-bills where the target was of PKR 50 billion each. The lower interest by banks in short term paper reflects a decline in attractiveness of the paper after the discount rate has declined to 9.5% by SBP.