SBP raises Rs382bn through PIB auction

December 18, 2024 (MLN): The State Bank of Pakistan (SBP) conducted an auction on Wednesday, raising around Rs382 billion through the sale of Pakistan Investment Bonds (PIBs), against the target of Rs350bn.

Cut off yields stood at 12.50% (-55bps) for 2-year, 12.50% (unchanged) for 3-year, 12.59% (-11bps) for 5-year, and 12.80% (-4bps) for 10-year bond.

Total amount offered was Rs824.35bn out of which the SBP accepted Rs381.83bn.

The SBP received bids worth Rs385.12bn for 2-year, Rs44.7bn for 3-year, Rs392.75bn for 5-year, and Rs69.94bn for 10-year, out of which it accepted Rs38.45bn for 2-year, Rs26.03bn for 3-year, Rs181.4bn for 5-year, and Rs95.88bn for 1- year

In addition, the SBP picked up Rs40.07bn from the non-competitive auction and Rs0bn from short-selling, making the total amount accepted Rs381.83bn.

To note, the central bank in the last auction held on November 20, 2024, sold PIBs worth Rs367.95bn against a target of Rs300bn.

Cut off yields stood at 13.05% (-19bps) for 2-year, 12.50% (unchanged) for 3-year, 12.70% (-9bps) for 5-year, and 12.838% (-14bps) for 10-year bond.

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