SBP raises Rs732.5bn through floating rate PIBs

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MG News | December 24, 2024 at 08:20 PM GMT+05:00

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December 24, 2024 (MLN): The State Bank of Pakistan (SBP) conducted an auction for floating rate Pakistan Investment Bonds on Tuesday in which it sold Rs732.53 billion for 2, 5 and 10 years semiannual bonds against a target of Rs650bn.

The cut-off price stood at 96.6491 for 5-year bond, and 92.3971 for the 10-year bond.

The total sum raised represents raised through Rs723.01bn through competitive bids and Rs9.52bn through non-competitive bids.

To note, the central bank in the last auction held on December 11, 2024, sold PIBs-PFL worth Rs788.14bn against a target of Rs700bn.

The cut-off price stood at 96.6861 for 5-year bond, and 92.4045 for the 10-year bond, while bids were rejected for 2-year bonds.

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