The State Bank has set Rs 60 billion as pre-auction target for the sale of Treasury Bills. The Bank would sell T-bills of three months and 12 months maturity.
Market sources said that the SBP has set Rs 60 billion target in anticipation of Rs 75 billion maturity expected on Thursday. This outflow would offset the impact of such a big inflow of liquidity.
Market sources said that the overnight rate, which had jumped to 7 percent a couple of days ago, was hovering around one percent on Monday.