December 9, 2020 (MLN): The State Bank of Pakistan conducted an auction on Wednesday in which it sold fixed rate PIBs worth Rs.13.271 billion against an auction target of Rs.125 billion.

Bids for 5 and 10 year bonds were rejected while the SBP only picked up Rs.1.5 billion for 3 years with the bulk of amount raised for 15 and 20 years. The SBP sold PIBs worth Rs.3 billion for 15 years and Rs.8 billion for 20 years.

The SBP had received bids worth Rs.66.298 billion.

In addition the SBP picked up Rs.721.5 million through short selling and non-competitive bids.

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