Auction Result: SBP sells PIBs worth Rs.200.87 billion

July 21, 2020 (MLN): The State Bank of Pakistan conducted an auction on Tuesday in which it sold PIB’s worth Rs.200.87 Billion for 3, 5, 10 and 15 years in fixed rate bonds.

The auction target was Rs.140 billion against a maturing amount of Rs.101.36 billion showing a new funding requirement of Rs.38.64 billion.

The SBP received bids worth Rs.128.50 billion for 3 years, Rs.84.451 billion for 5 year, Rs.36.028 billion for 10 years, Rs.10 billion for 15 year and Rs.5 billion for 20 years out of which the central bank accepted Rs.97.30 billion for 3 years, Rs.57.25 billion for 5 years, Rs.29.82 billion for 10 years while the entire amounts were accepted for 15 and 20 years.

Cut of Yields were 7.37, 8.37, 8.99, 9.75 and 10.40 percent for 3, 5, 10, 15 and 20 years.

In addition to the above the SBP picked up an additional Rs. 1.493 Billion in Non-Competitive Bids making the total accepted amount Rs.200.872 Billion.     

Copyright Mettis Link News