Govt raises Rs550 billion in T-bill auction as yields drop by up to 48 basis points

The government raised Rs550.82 billion in Wednesday’s Market Treasury Bills auction, exceeding its Rs400 billion target for November 11, while yields fell across all four maturities. The State Bank of Pakistan reported that cut-off yields declined by between 22.17 and 48 basis points from the October 28 auction. The 12-month rate saw the largest drop, reaching 12.4100%, while the three-month rate settled at 11.9999%.

Accepted bids had a face value of Rs586.71 billion, against competitive offers totalling Rs2.07 trillion. The realised amount was below the Rs1.84 trillion raised in the previous auction. Three-month bills accounted for the largest accepted amount, at Rs292.70 billion, followed by Rs206.02 billion in 12-month securities. Non-competitive bids contributed Rs341.69 billion of the total, and settlement was scheduled for November 12, 2026.