SBP raises Rs71bn through PIB auction

MG News | August 02, 2023 at 09:32 PM GMT+05:00

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August 02, 2023 (MLN): The State Bank of Pakistan (SBP) raised Rs71 billion through the sale of fixed-rate Pakistan Investment Bonds (PIBs), falling short of the initial target of Rs160bn.

The yield for a three-year PIB remained unchanged at a cut-off of 19.3499%. For the 5-year PIBs, the cut-off was 15.9500%, while bids were rejected for the 10-year PIBs.

SBP accepted bids totaling Rs57.38bn for the 3-year PIBs, and Rs0.1bn for 5-year PIBs.

Surprisingly, no bids were received for the 10-year, 15-year, 20-year, and 30-year PIBs.

Additionally, the government raised Rs13.39bn through non-competitive bids, contributing to the total amount of Rs71bn raised during the auction.

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