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

Add Mettisglobal as a Trusted Source on Google

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	179,083.80 326.85M	-0.14% -251.44
ALLSHR	106,969.30 1,243.49M	-0.04% -40.87
KSE30	52,230.29 176.10M	-0.34% -175.66
KMI30	256,073.83 172.72M	-0.20% -510.00
KMIALLSHR	69,023.58 647.47M	-0.10% -67.01
BKTi	49,405.48 47.35M	-0.64% -316.53
OGTi	35,110.87 9.20M	-0.54% -191.00

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	74,675.00	74,890.00 73,230.00	870.00 1.18%
BRENT CRUDE	92.64	94.73 91.44	1.15 1.26%
RICHARDS BAY COAL MONTHLY	126.85	126.85 126.85	0.65 0.52%
ROTTERDAM COAL MONTHLY	136.20	136.25 135.50	2.20 1.64%
USD RBD PALM OLEIN	1,182.50	1,182.50 1,182.50	0.00 0.00%
CRUDE OIL - WTI	86.45	88.74 85.81	0.41 0.48%
SUGAR #11 WORLD	18.47	18.57 18.10	0.38 2.10%