SBP raises Rs409bn through floating rate PIBs

MG News | October 16, 2024 at 06:35 PM GMT+05:00

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October 16, 2024 (MLN): The State Bank of Pakistan (SBP) conducted an auction for floating rate Pakistan Investment Bonds on Wednesday in which it sold Rs408.91 billion for 2, 5 and 10 years semiannual bonds against a target of Rs450bn.

The cut-off price stood at 99.6532 for 2-year PIB-PFL semiannual, 96.8222 for 5-year bond, and 93.5065 for the 10-year bond.

SBP received bids totalling Rs808.15bn.

The total sum raised represents Rs392.9bn raised through competitive bids and Rs16.01bn through non-competitive bids.

To note, the central bank in the last auction held on October 02, 2024 sold PIBs-PFL worth Rs304bn 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.

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