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SBP auctions PIBs worth Rs304.4b

SBP auctions PIBs worth Rs304.4b

KARACHI: The State Bank of Pakistan (SBP) on Thursday auctioned Pakistan Investment Bonds (PIBs) worth Rs309.415 billion for 3, 5 and 10 years in fixed and floating rate bonds.

Cut off Yields for the Fixed Rate Bonds increased by 55 basis points to 14.25 percent for 3 years, remained the same at 13.80 percent for 5 years while the 10 year cut off declined by 15 basis points to 13.55 percent.

The SBP had received bids worth Rs.699.07 Billion for the fixed Rate PIB’s and Rs128.150 billion for the floating rate bond. The total goal of the auction was Rs100 billion for PIBs in both the fixed and floating rate categories.

Out of the Rs168.592 billion for the 3 year PIB, SBP accepted Rs120.437 billion, for the 5 Year PIB it accepted Rs55.415 billion out of Rs268.747 billion while it accepted Rs25.201 billion from Rs261.73 billion for 10 years. In the floating rate auction, it accepted Rs84.150 billion.