February 16, 2022 (MLN): The State Bank of Pakistan (SBP) has raised Rs99.5 billion on Wednesday, against the target of Rs100 billion by selling fixed-rate Pakistan Investment Bonds (PIBs).

The cut-off yield for 3-year PIBs dropped by 9bps to 10.7%, while the cut-off yield for both 5-year and 10-year PIBs fell by 11bps to 10.75% and 10.86% respectively.

Against the auction target of Rs100 billion, SBP received total bids of Rs437.78billion.

SBP received bids worth Rs150.3 billion for 3-years, Rs152.7 billion for 5-years, Rs132.8 billion for 10-years, Rs1 billion each for 15-year and 20-year PIBs. However, no bids were received for 30-year bonds.

The SBP accepted Rs4 billion for 3-year papers, Rs45 billion for 5-year, and Rs50.5 billion for 10-year PIBs. While the central bank rejected the bids for the 15-year and 20-year bonds.

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