SBP raises Rs304bn through floating rate PIBs

MG News | October 02, 2024 at 08:36 PM GMT+05:00

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October 02, 2024 (MLN): The State Bank of Pakistan (SBP) conducted an auction for floating rate Pakistan Investment Bonds on Wednesday in which it sold Rs304.27 billion of 2, 5, and 10 years semiannual bonds against a target of Rs400bn.

The cut-off price stood at 99.6667 for 2-year PIB-PFL semiannual, 96.8269 for 5-year bond, and 93.5176 for the 10-year bond.

SBP received bids totaling Rs1.15 trillion.

To note, the central bank had opted not to sell any of these bonds in the previous auction held on September 18.

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