The State Bank of Pakistan (SBP) raised Rs1.21 trillion through Market Treasury Bills (MTBs) and Rs90.43 billion through an auction of Pakistan Investment Bond – Floating Rate (PIB-PFL).
As per data shared by the central bank, in the MTBs auction, Rs1.21 trillion was raised against a target of Rs780 billion and a maturity amount of Rs810 billion.
Cut-off yields were 20.1498% for 3 months, 19.9693% for 6 months, and 18.9489% for 12 months.
The total amount offered was Rs2.19 trillion, with the SBP receiving bids worth Rs586.56 billion for 3 months, Rs683.65 billion for 6 months, and Rs917.7 billion for 12 months.
Out of these bids, SBP accepted Rs289.74 billion for 3 months, Rs489.27 billion for 6 months, and Rs315 billion for 12 months.
The central bank also picked up Rs114.39 billion from the non-competitive auction, making the total amount accepted Rs1.21tr.
PIB-PFL auction
Additionally, the State Bank sold Pakistan Investment Bond – Floating Rate (PIB-PFL) semi-annual worth Rs90.43 billion for 5 and 10 years, against a target of Rs220 billion.
The cut-off price for the 5-year PIB-PFL semiannual stood at Rs96.5875, while for the 10-year bond, it was Rs94.4585.
SBP received bids totalling Rs287.75 billion for PIB-PFL semi-annually and Rs50bn for PIB-PFL quarterly. The central bank accepted Rs90.43bn for the semiannual floaters, while none were accepted for the quarterly PIB.
The settlement date for the successful bids is June 13, 2024.
