SBP raises Rs157.53bn through PIB auction, yields drop by up to 50 bps

News Image

By MG News | January 16, 2024 at 06:56 PM GMT+05:00

0:00

January 16, 2023 (MLN): The State Bank of Pakistan (SBP) raised Rs157.529 billion against a target of Rs190bn through the sale of fixed-rate Pakistan Investment Bonds (PIBs).

In today's auction, the amount offered was Rs460bn.

Accordingly, the central bank picked up Rs81.1bn for 3 years, Rs40.574bn for 5 years, and Rs1.521bn for 10 year bonds through competitive bids.

In addition to the competitive bids, SBP picked up Rs34.333bn from non-competitive bids, taking the total amount raised to Rs157.529bn.

To note, no short selling took place during the auctions and no bids were received for the 15, 20, and 30-year PIB.

The cut-off yields stood at 16.8%, 15.5%, and 14.5% for the 3-year, 5-year, and 10-year periods, respectively.

In comparison to the last PIB auction held on December 20, 2023, the yields for the 3-year, 5-year, and 10-year PIBs recorded a notable decrease of 40, 30, and 50 basis points (bps) respectively.

The decline in yields is attributed to market participants' expectations that interest rates have peaked and are expected to fall in the coming months.

To note, in the last PIB auction, SBP raised Rs396.57bn against a target of Rs190bn through the sale of PIBs and the yields dropped by up to 19bps.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 130,745.19
115.84M
0.31%
401.16
ALLSHR 81,293.97
323.41M
0.33%
269.99
KSE30 40,045.86
51.50M
0.34%
137.60
KMI30 190,439.30
65.31M
0.48%
904.30
KMIALLSHR 54,948.29
156.80M
0.30%
164.63
BKTi 34,937.03
11.93M
-0.01%
-3.70
OGTi 28,616.51
10.53M
1.13%
320.45
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 109,750.00 110,105.00
109,200.00
-535.00
-0.49%
BRENT CRUDE 68.53 69.00
68.41
-0.58
-0.84%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.75
0.78%
ROTTERDAM COAL MONTHLY 109.20 110.00
108.25
1.70
1.58%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.89 67.50
66.78
-0.56
-0.83%
SUGAR #11 WORLD 15.56 15.97
15.44
-0.14
-0.89%

Chart of the Day


Latest News
July 03, 2025 at 10:45 AM GMT+05:00

Pakistan faces population emergency: Ahsan Iqbal


July 03, 2025 at 10:22 AM GMT+05:00

Bunny’s starts bread production in Islamabad


July 03, 2025 at 10:16 AM GMT+05:00

Atlas Honda updates bike prices amid new taxes


July 03, 2025 at 09:59 AM GMT+05:00

Pak Suzuki revises car prices after budget 2025–26



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg