SBP rejects all bids for floating rate PIBs

MG News | September 18, 2024 at 05:43 PM GMT+05:00

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September 18, 2024 (MLN): The State Bank of Pakistan (SBP) conducted an auction for floating rate Pakistan Investment Bonds on Wednesday but chose not to sell any.

The target was to raise Rs450bn, and the central bank received bids worth Rs1.01 trillion.

To note, SBP in the last auction held on September 04, 2024 sold PIBs-PFL worth Rs218bn against a target of Rs400bn.

The cut-off price stood at Rs96.4698 for the 5-year PIB-PFL semiannual bond, and Rs94.0192 for the 10-year bond.

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