In the first treasury bills’ auction of this fiscal year on Wednesday, the government raised Rs136 billion — Rs11bn more than the target of Rs125bn.
Details show that the banks invested most of their money in three-month T-bills which means they believe the interest rate could be changed in the coming weeks or months. The upcoming monetary policy statement is scheduled for July 19.
The banks invested Rs127bn out of their total investment of Rs136bn for three-month treasury bills, not taking any risk amid an uncertain interest rate scenario.
