The State Bank of Pakistan conducted auctions for Fixed and Floating Coupon Rate bonds and sold Rs.116.525 Billion in 5 Year Fixed and 10 Year floating bond.
In the fixed rate auction the SBP rejected bids for the 3 year and 10 years bonds, while no bids were made for the 20 year bond. The SBP accepted Rs.15 Billion for 5 years at a cut off yield of 9.25%. Auction Target was Rs.50 Billion
In the Floating rate bond auction the SBP accepted Rs101.525 Billion at a cut off margin at 70 basis points over benchmark. Auction Target was Rs.150 Billion