States' borrowing cost jumped 10 basis points to 7.56 per cent at the first weekly debt auction of the third quarter on Tuesday and is the highest in the the past 23 weeks. Fourteen states raised Rs 22,500 crore through the issuance of state government securities in line with the indicated amount for this weekly auction for the third quarter calendar. According to Aditi Nayar, the chief economist at Icra Ratings, the auctions saw a steep increase in the cut-offs across tenors leading to the weighted average cost jumping to a 23-week high of 7.56 per cent.