SBP raises Rs91.8bn through PIB auction

MG News | June 27, 2023 at 10:38 PM GMT+05:00

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June 27, 2023 (MLN): The State Bank of Pakistan (SBP) on Wednesday raised Rs91.8 billion through the sale of fixed-rate Pakistan Investment Bonds (PIBs).

The amount raised during the auction fell short of the initial target of Rs160bn. The yield for a three-year PIB remained unchanged at a cut-off of 19.35%.

Investors submitted bids totaling Rs90.22bn for the 3-year PIBs, while bids were rejected for the 5-year PIBs. Surprisingly, no bids were received for the 10-year, 15-year, 20-year, and 30-year PIBs.

Apart from that, the government also raised Rs1.61bn through non-competitive bids, which led to a total amount of Rs91.8bn raised during the auction.

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