SBP raises R496.37bn through PIB-PFL auction

MG News | November 15, 2023 at 09:12 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

November 15, 2023 (MLN): The State Bank of Pakistan (SBP) conducted an auction on Wednesday in which it sold Pakistan Investment Bond – Floating Rate (PIB-FRR) semiannual and quarterly worth Rs496.37 billion for 2, 3, 5 and 10 years against a target of Rs280bn.

SBP received bids worth Rs946.57bn for PIB-FRR semiannual and Rs231bn for PIB-FRR quarterly, out of which the central bank accepted Rs432.44bn and Rs63.926bn respectively.

The central bank picked up Rs3bn through the sale of 2 years and Rs60.93bn through the sale of 3-year quarterly PIB-FRR quarterly.

The total amount of Rs63.926bn raised through PIB-FRR quarterly includes Rs60bn raised through competitive bids and the remaining Rs3.926bn through non-competitive bids.

Additionally, Rs285.568bn was raised through the 5-year PIB-FRR semiannual, while Rs146.876bn was raised through the 10-year semiannual bond.

The total sum raised through 5-year and 10-year semiannual bonds represents Rs408.479bn raised by SBP through competitive bids and the remaining Rs23.965bn raised through non-competitive bids.

The cut-off price for the 2-year and 3-year PIB-FRR quarterly was Rs99.0041 and Rs98.0138 respectively.

While for the PIB-FRR semiannual, the cutoff was Rs96.9149 for the 5-year bond and for the 10-year one it stood at Rs94.3547

The settlement date for the successful bids is November 16, 2023.

To note, the target for the PIB-FRR semiannual was to raise Rs120bn through the sale of 5-year and 10-year PIB, Rs60bn each.

In the case of PIB-FRR quarterly, it was to raise Rs160bn with the sale of 2-year and 3-year PIB-FRF, Rs80bn each.

The central bank, in the last auction held on November 01 sold PIBs-FRR worth Rs341.276bn for 2, 3, 5 and 10 years against a target of Rs280bn.

Related News

Name	Price/Vol	%Chg/NChg
KSE100	169,392.33 140.87M	0.85% 1421.67
ALLSHR	102,246.77 370.03M	0.62% 626.89
KSE30	50,468.10 50.48M	0.76% 379.72
KMI30	241,108.75 61.37M	0.48% 1151.64
KMIALLSHR	66,245.50 219.95M	0.50% 327.36
BKTi	46,992.31 14.07M	0.64% 300.00
OGTi	34,488.93 4.55M	0.11% 37.74

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	76,990.00	79,110.00 76,680.00	-2160.00 -2.73%
BRENT CRUDE	107.37	108.43 106.25	1.69 1.60%
RICHARDS BAY COAL MONTHLY	130.00	0.00 0.00	2.75 2.16%
ROTTERDAM COAL MONTHLY	140.00	0.00 0.00	0.70 0.50%
USD RBD PALM OLEIN	1,228.00	1,228.00 1,228.00	0.00 0.00%
CRUDE OIL - WTI	103.57	104.21 101.83	2.18 2.15%
SUGAR #11 WORLD	18.22	18.30 18.04	0.06 0.33%