SBP raises Rs104.8bn through PIB auction
MG News | October 02, 2023 at 09:14 PM GMT+05:00
October 02, 2023 (MLN): The State Bank of Pakistan (SBP) raised Rs104.82 billion against a target of Rs160bn through the sale of fixed-rate Pakistan Investment Bonds (PIBs).
The central bank picked up Rs98.1bn for 3 years, Rs2.8bn for 5 years, and Rs1.26bn for 10 years.
While no bids were received for the 15, 20, and 30-year PIB.
The cut-off yield was 19.19%, 16.95%, and 15.25% for 3, 5, and 10 years, respectively.
When compared to the last auction held on September 18, the yield for the 3-year PIB fell by 15.49bps, while the yields for the 5-year PIB and the 10-year PIB remained unchanged.
In addition to this, SBP picked up Rs2.69bn from non-competitive bids, taking the total amount raised to Rs104.8bn.
To note, in the last PIB auction held on September 18, SBP raised only Rs3.66bn against a target of Rs160bn, and the cutt-off yield was 19.3449%, 16.95%, and 15.25% for 3, 5, and 10 year, respectively.
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