Auction Result: SBP Sells PIBs worth Rs.188.43 Billion

November 13, 2019 (MLN): The State Bank of Pakistan (SBP) conducted an auction on Wednesday in which sold PIBs worth Rs.188.43 Billion in fixed and floating rate bonds.

The SBP received bids worth Rs.399.434 billion against the auction target of Rs.150 billion, with fixed rate PIBs getting Rs.271.334 billion against a target of Rs.100 billion and floating rate getting Rs.128.10 billion against a target of Rs.50 billion.

In the fixed rate auction the total accepted amount was Rs.120.211 Billion with the SBP accepting Rs.56.04 billion for 3 years, Rs.42.675 and Rs.21.492 billion for 5 and 10 years. The Bid for 20 year PIB was rejected.

 Cut off Yields for 3 and 10 year remained static at 11.7999 and 11.35 percent while the 5 year cut off yield came down by 15 basis points to 11.45 percent.

In the floating rate bond auction, the SBP accepted Rs.54.10 billion at a cut off price of Rs.101.7734.

In addition to these, the SBP also pick up Rs.2.10 Billion in non-competitive bids and Rs.12.025 billion through short selling making the total accepted amount Rs.188.43 billion.

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