KARACHI, Aug 27: The State Bank of Pakistan said on Saturday it would auction Rs96 billion worth of three-, six- and 12-month Treasury bills next week. The auction will be on Wednesday, with settlement on Thursday, the central bank said.

At the last T-bill auction on August 17, the central bank sold Rs2.667 billon of its benchmark six-month paper at a cut-off yield of 8.1388 per cent and an annual weighted average yield of 8.1056 per cent.

At the same auction, the bank also sold Rs8.864 billion of the three-month paper and Rs2.620 billion of 12-month paper.

The cut-off and the weighted average annual yield on three-month T-bills were then set at 7.9197 per cent and 7.8297 per cent respectively.

The cut-off yield for the 12-month T-bill was set at 8.7907 per cent, while its weighted average annual yield was 8.7865 per cent.—Reuters