June 30, 2020 (MLN): The State Bank of Pakistan (SBP) conducted an auction on Tuesday in which it sold Floating Rate Bonds (PIBs) worth Rs.93.833 billion for 3, 5 and 10 years.

Auction target was Rs.120 billion, whereas the SBP received bids worth Rs.271.215 billion.

The SBP received bids worth Rs.179.215 billion for 3 years, Rs.35 billion for 5 years and Rs.57 billion for 10 years out of which the SBP accepted Rs.50.07 billion, Rs.25 billion and Rs.18 billion for 3, 5 and 10 years.

In addition to the above the SBP also picked up Rs.763.60 million in non-competitive bids making the total accepted amount Rs.93.833 billion.

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