PIB Auction Result: Fixed Rate PIBs witness very little interest

By MG News | October 14, 2020 at 08:50 PM GMT+05:00

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October 14, 2020 (MLN): The State Bank of Pakistan conducted an auction on Wednesday in which it sold fixed rate PIBs worth Rs.13.05 billion against an auction target of Rs.140 billion.

Bids for 5 and 10 year bonds were rejected while the SBP only picked up Rs.50 million for 3 years with the bulk of amount raised for 15 and 20 years. The SBP sold PIBs worth Rs.8.0 billion for 15 years and Rs.5 billion for 20 years.

The SBP had received bids worth Rs.57.80 billion.

There were no non-competitive bids for 3, 15 or 20 years.

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