SBP sells Rs638.93bn worth of PIBs, surpassing target

The State Bank of Pakistan (SBP) sold Pakistan Investment Bonds (PIBs) worth Rs638.93 billion in an auction, surpassing its target of Rs300 billion. The cut-off yields were 11.09% for the 2-year bond, 11.14% for the 3-year, 11.4399% for the 5-year, and 12.15% for the 10-year bond.

The total amount offered in the auction was Rs2.03 trillion, with the SBP accepting Rs638.93 billion. Bids received included Rs150.25 billion for the 2-year, Rs273.78 billion for the 3-year, Rs234.98 billion for the 5-year, Rs342.61 billion for the 10-year, and Rs1.03 trillion for the 15-year bond.