The State Bank of Pakistan (SBP) secured Rs55.95 billion from the sale of fixed-rate Pakistan Investment Bonds (PIBs), missing its Rs 125 billion target.
According to results shared by the SBP, the auction, which offered 3-year, 5-year, and 10-year PIBs totaling Rs253.55 billion, did not attract bids for the 15, 20, and 30-year bonds.
The central bank acquired Rs34.965 billion for the 3-year bonds, Rs10.833 billion for the 5-year, and Rs 558 million for 10-year bonds through competitive bidding.Â
An additional Rs9.862 billion was raised from non-competitive bids, culminating in the total funds raised.
Yields for the bonds were set at 16.78% for 3 years, 15.49% for 5 years, and 14.35% for 10 years, marking a slight decrease from the previous auction held on February 14, 2024.Â
This reduction in yields — 2 basis points (bps) for the 3-year, 6 bps for the 5-year, and 15 bps for the 10-year bonds—reflects growing optimism for an impending rate cut following a drop in inflation to a 20-month low in February.
