SBP raises Rs981bn through floating rate PIBs
MG News | March 26, 2025 at 08:04 PM GMT+05:00
March 26, 2025 (MLN): The State Bank of Pakistan (SBP) conducted an auction for floating rate Pakistan Investment Bonds on Wednesday in which it sold Rs980.51 billion for 2, 5 and 10-year semiannual bonds against a target of Rs450bn.
SBP received bid submissions totaling Rs1.31 trillion across various tenors. However, it rejected all bids for the 2-year PIB-PFL (semiannual), while the cut-off price stood at 96.8291 for the 5-year bond and 92.6071 for the 10-year bond.
The total sum raised represents raised through Rs972bn through competitive bids and Rs8.51bn through non-competitive bids.
To note, the central bank in the last auction held on March 19, 2025, sold PIBs-PFL worth Rs762bn against a target of Rs425bn.
The cut-off prices for the accepted tenors stood at 97.0481 for the 5-year bond and 92.8064 for the 10-year bond.
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