SBP raises over Rs1tr through MTBs, PIB auctions

December 10, 2025 (MLN): The State Bank of Pakistan (SBP) raised a combined Rs1.172 trillion in its latest auction of Market Treasury Bills (MTBs) and 10-year Pakistan Investment Bond – Floating Rate (PIB-PFL). 

The central bank raised Rs981.69 billion through MTBs, while an additional Rs190.74 billion was secured through 10-year Pakistan Investment Floating Rate (PFL) instruments.

In today's auction, the 12-month tenor attracted the largest participation, with face value bids of Rs561.356 billion.

This was followed by Rs236.657 billion in 3-month bills, Rs150.419 billion in 1-month papers, and Rs33.255 billion in 6-month instruments.

Cut-off yields showed limited movement compared to the November 26 auction.

The 1-month yield eased slightly to 10.8492% from 10.8873%, the 3-month rate inched down to 10.9881% from 11.00%, and the 6-month yield softened marginally to 10.9999% against the previous 11.00%. The 12-month yield remained unchanged at 11.2681%.

For the 10-year Pakistan Investment Bond – Floating Rate semi-annual issue, SBP received Rs523 billion in competitive bids.

It accepted Rs185 billion in face value at a cut-off price of 95.5013, against the quoted price range of 95.6113 to 92.7475.

The central bank also accepted Rs5.74 billion in non-competitive bids, taking the total raised amount for the 10-year PFL to Rs190.74 billion.

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