June 22, 2022 (MLN): The State Bank of Pakistan (SBP) raised Rs155 billion on Wednesday, against the target of Rs150bn by selling fixed-rate Pakistan Investment Bonds (PIBs).
The cut-off yield for 3-year and 5-year PIBs dropped by 3bps and 1bps to 13.97% and 13.18, respectively. On the other hand, the cut-off yield for 10-year witnessed no change as it stood at 13.15%.
Against the auction target of Rs150bn, SBP received total bids of Rs544.55bn.
SBP received bids worth Rs108.78n for 3-years, Rs225.62bn for 5-years, Rs190.39bn for 10-years, and Rs19.77bn for 15-year PIBs. However, no bids were received for 20-year and 30-year bonds.
The SBP accepted Rs8bn, Rs101.23bn, and Rs45.76bn for 3-year, 5-year, and 10-year PIBs, respectively while the central bank rejected the bids for the 15-year bonds.
Copyright Mettis Link News