September 18, 2019 (MLN): The State Bank of Pakistan conducted an auction on Wednesday in which it picked up Rs.274 Billion for 3, 5 and 10 years as cut off yields declined across the board.

In the Fixed Rate PIB Auction, the SBP received bids worth Rs.787.81 billion out of which it accepted Rs.183.17 billion.

The cut off yields decreased by 130 basis points to 12.95 percent for 3 Years, by 105 bps to 12.50 percent for 5 years and by 90 bps to 12.2483 percent for 10 year. Bids for the 20 year PIB were rejected.

In the Floating Rate PIB Auction, the SBP received bids worth Rs.158.50 Billion out of which it accepted Rs.91.20 Billion. It received bids in Price range of 101.3171 and 99.9700 with it accepting a cut off price of 100.4829.

The data for the non-competitive bids and short selling was not yet released by the SBP.

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