Money Market: Bank borrowing falls
The government raised Rs77.57bn from the auction of Market Treasury Bills of various tenors held last Thursday, missing its target of Rs100.0bn and also falling short of the received amount of Rs121.60bn.
Of the total, six month T bill fetched Rs31.46bn at a cut off yield of 5.91pc, followed by 12 month T bill with Rs31.16bn at 5.92pc, and three month T bill Rs14.94bn at 5.86pc.
The central bank had received total bids worth Rs121.60bn: 6 month T bill Rs43.70bn, followed by 3 month T bill Rs42.96bn and 12 month T bill Rs34.94bn.
Total assets of all scheduled banks stood lower than the preceding weeks’. The current week’s figure is higher compared to last year’s corresponding figure
The Central Bank pumped in a massive Rs1.06tn into the banking system on Sept 09, in an open market operation. The injection was made in seven day contract at 5.79pc. The central bank had received bids worth Rs1.142tn. Total amount offered at 5.79pc was Rs312.5bn, out of which the SBP accepted Rs230.0bn mio on pro rata basis.