SBP sells Rs95.7bn worth of PIBs

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KARACHI: The State Bank of Pakistan (SBP) raised Rs95.67 billion through the sale of Pakistan Investment Bonds (PIBs) at an auction on Wednesday.

As per the auction result, the raised amount was lower than the target of Rs100 billion.

The yields on 10-year bonds fell by 10 basis points, from 11pc to 10.9pc, while the that for 3 and 5-year bonds remained unchanged at 11.75pc and 11.19pc, respectively.

Out of the Rs72.4 billion for the 3-year PIB, SBP accepted Rs22.7 billion. For the 5-year PIB, SBP accepted Rs53.4 billion out of Rs76.6 billion, whereas it accepted Rs19.6 billion for 10-year PIB.

Bids for 20-year bonds were rejected. The next auction will be held on 4th February 2020.

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