SBP raises just Rs3.66bn against a target of Rs160bn through PIB auction

MG News | September 18, 2023 at 10:04 PM GMT+05:00

0:00

September 18, 2023 (MLN): The State Bank of Pakistan (SBP) raised only Rs3.66 billion against a target of Rs160bn through the sale of fixed-rate Pakistan Investment Bonds (PIBs).

The central bank picked up Rs1.28bn for 3 years, Rs200 million for 5 years, and Rs100.5m for 10 years.

While no bids were received for the 15, 20, and 30-year PIB.

The cut-off yield was 19.3449%, 16.95%, and 15.25% for 3, 5, and 10 year, respectively.

When compared to the last auction held on August 02, the yield for 3-year PIB remained unchanged, the 5-year PIB saw an increase of 100bps, while the 10-year PIB was accepted after one year.

In addition to this, SBP picked up Rs2.08bn from non-competitive bids, taking the total amount raised to Rs3.66bn.

Interestingly, the central bank received bids worth Rs138.5bn, out of which the SBP accepted a little below 3% of the total.

To note, in the last PIB auction held on August 02, SBP raised Rs71bn, and the cut-off yield for a 3-year PIB was 19.3499%, and for the 5-year PIBs, the cut-off was 15.9500%, while bids were rejected for the 10-year PIBs.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	166,283.55 167.56M	0.08% 138.20
ALLSHR	100,743.06 606.86M	0.18% 177.75
KSE30	50,481.85 68.41M	-0.03% -14.33
KMI30	238,092.04 74.86M	0.08% 183.16
KMIALLSHR	65,617.46 221.67M	0.08% 53.04
BKTi	45,081.48 14.67M	-0.08% -34.71
OGTi	33,080.66 7.44M	0.16% 54.22

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	92,485.00	94,440.00 92,030.00	-780.00 -0.84%
BRENT CRUDE	63.44	63.62 62.53	0.77 1.23%
RICHARDS BAY COAL MONTHLY	91.00	0.00 0.00	-0.45 -0.49%
ROTTERDAM COAL MONTHLY	97.00	97.90 97.00	-1.50 -1.52%
USD RBD PALM OLEIN	1,016.00	1,016.00 1,016.00	0.00 0.00%
CRUDE OIL - WTI	59.88	60.02 58.81	0.93 1.58%
SUGAR #11 WORLD	14.91	15.00 14.78	-0.02 -0.13%