Auction for PIBs: Cut-off yields down 9-11bps

KARACHI: In the PIB (fixed rate) auction Wednesday, cut-off yields were down 9-11 basis points.

The government raised Rs 99.5 billion against its target of Rs 100 billion. In the three year tenor, the government raised Rs 4.0 billion against its target of Rs 30.0 billion and in the five year tenor, the government raised Rs 45.0 billion against its target of Rs 25.0 billion while in the 10 year tenor, the government raised Rs 50.5 billion against target of Rs 20.0 billion.

All bids received in 15-year and 20-year tenor were rejected while no bid was received for 30-year tenor.

Copyright Business Recorder, 2022