April 15, 2020 (MLN): The State Bank of Pakistan conducted an auction on Wednesday in which it sold PIB’s worth Rs.163.10 Billion for 3, 5, 10, 15 and 20 years in fixed and floating rate bonds.
The combined auction target was Rs.160 billion while the maturing amount was nil.
The SBP accepted Rs.112.776 Billion in fixed Rate PIBs and Rs.50.325 Billion for the 10 year floating rate PIB.
In the fixed rate auction, the SBP received bids worth Rs.243.745 billion for 3 years, Rs.63.762 billion for 5 year, Rs.21.84 billion for 10 years, Rs.13.275 billion for 15 year and Rs.6.275 billion for 20 years out of which the central bank accepted Rs.42 billion for 3 years, Rs.32.3 billion for 5 years, Rs.13.90 billion for 10 years, Rs.10.275 billion for 15 years and Rs. 5.0 billion for 20 years.
Cut of Yields were 8.56, 8.83, 9.00, 10.49 and 10.70 percent for 3, 5, 10, 15 and 20 years.
In the floating rate bond auction, the SBP received bids worth Rs.109.50 billion out of which the SBP accepted Rs.50.20 billion at a cut off price of 102.5594.
In addition to the above the SBP picked up an additional Rs.9.30 Billion in Non-Competitive Bids and through short selling making the total accepted amount Rs.163.10 Billion.
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