Auction Result: SBP sells PIBs worth Rs.238.15 billion

May 28, 2020 (MLN): The State Bank of Pakistan conducted an auction on Thursday in which it sold PIB’s worth Rs.238.15 Billion for 3, 5, 10 and 15 years in fixed and floating rate bonds.

The combined auction target was Rs.175 billion while the maturing amount was nil.

The SBP accepted Rs.171.85 Billion in fixed Rate PIBs and Rs.66.300 Billion for the 10 year floating rate PIB.

In the fixed rate auction, the SBP received bids worth Rs.142.35 billion for 3 years, Rs.63.90 billion for 5 year, Rs.29.50 billion for 10 years, Rs.3.50 billion for 15 year and Rs.1 billion for 20 years out of which the central bank accepted Rs.81.45 billion for 3 years, Rs.57.90 billion for 5 years, Rs.27 billion for 10 years and Rs.2.5 billion for 15 years while the bids for 20 years was rejected.

Cut of Yields decreased to 7.64, 8.05, 8.69 and 9.9699 percent for 3, 5, 10 and 15 years.

In the floating rate bond auction, the SBP received bids worth Rs. 80.30 billion out of which the SBP accepted Rs.66.30 billion at a cut off price of 101.5366.

In addition to the above the SBP picked up an additional Rs. 2.999 Billion in Non-Competitive Bids making the total accepted amount Rs.238.15 Billion.

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