SBP raises Rs235bn via PIBs auction, yields come down by 1-3bps
MG News | September 15, 2022 at 12:37 AM GMT+05:00
September 14, 2022 (MLN): The State Bank of Pakistan (SBP) raised Rs235 billion on Wednesday, against the target of Rs175 billion by selling fixed-rate Pakistan Investment Bonds (PIBs).
The cut-off yield for 3-year and 5-year PIBs decreased by 3bps and 1bps to 13.92% and 13.39% respectively.
The Cut-off yields for 10-year PIBs settled at 12.95%. In last auction, central bank rejected the bids for the 10-year bonds.
The highest participation was seen in 5-year bonds as SBP received bids worth Rs333 billion for 5-year, Rs108 billion for 3-year, and Rs109 billion for 10-year. However, no bids were received for 15-year, 20-year and 30-year bonds.
The SBP accepted bid worth Rs28 billion for 3-year papers, Rs193 billion for 5-year papers and Rs14.29 billion for 10-yeat bonds.
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