March 3, 2021 (MLN): The State Bank of Pakistan (SBP) conducted an auction on Wednesday in which it sold fixed rate PIBs worth Rs.84.914 billion for 3, 5 and 10 years.

Auction target was Rs.125 billion, against which the SBP received bids of Rs.130.65 billion, however, no bids were received for 15, 20 and 30 year bonds.

SBP received bids worth Rs.42.75 billion for 3 years, Rs.52.90 billion for 5 years and Rs.35 billion for 10 years.

The SBP accepted Rs.28.751 billion for 3 years, Rs.35.55 billion for 5 and Rs.20 billion for 10 years. Cut off yields were 9.41%, 9.90% and 10.289% for 3, 5 and 10 years.

In addition the SBP picked up Rs.613 million through non-competitive bids making the total amount accepted Rs.84.914 billion.

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