Pakistan’s One-Year T-Bill Rate Drops to 3-Year Low

The 1-Year T-Bill rate has dropped to approximately a 3-year low of 11.34 percent. In the last one and a half years, the rate has halved from its peak of 24.73 percent on the back of falling inflation, according to Topline Securities. Wednesday saw the bond auction see cut-off yields for 3M, 6M, and 12M T-bills down by 20bps, 39bps, and 45bps, respectively at 11.5887 percent, 11.4048 percent, and 11.3459 percent. The auction received bids amounting to Rs. 1,401 billion against a target of Rs. 350 billion. The State Bank of Pakistan accepted Rs. 326 billion.