July 07, 2021 (MLN): The State Bank of Pakistan (SBP) conducted an auction on Wednesday in which it sold fixed rate PIBs worth Rs.149.261 billion for 3, 5 and 15 years.

Bids for 10 years were rejected while no bids were received for 20 and 30 years.

Auction target was Rs.150 billion against upcoming maturities of Rs.961 billion.

The SBP received bids worth Rs.309.824 out of which Rs.218.85 billion was for 3 years, 48.244 billion was for 5 years, 35.75 billion was for 10 years and 7 billion was for 15 years.

SBP accepted Rs.137.42 billion for 3 years at a cut off of 8.69%, 5 billion at 9.1980% for 5 years and 4 billion at 10.40% for 15 years.

In addition, the SBP picked up Rs.2.841 billion through non-competitive bids making the total accepted amount Rs.149.261 billion.

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