KARACHI: Cut-off yield of long-term Pakistan Investments Bonds (PIBs) declined up to 15 basis points (bps) in the auction held on Wednesday.
The auction for the sale of 3, 5, 10, 20 and 30-year PIBs was held on March 12, and bids worth Rs 253.54 billion were received for sale of 3, 5, and 10-year, while no bid was received for 10, 20 and 30-year long term government bonds.
Out of received bids, the State Bank of Pakistan (SBP) raised Rs 55.947 billion, including Rs 9.862 billion of non-competitive bids, against a target of Rs 190 billion.
The federal government borrowed an amount of Rs 42.916 billion for sale of 3-year bonds and its cut-off yield declined by 2 bps to set at 16.7800.
An amount of Rs 11.8 billion was raised against sale of 5-year PIBs at 15.4899 percent’ down by 6 bps.
Cut-off yield of 10-year long term bonds fell 15 bps to 14.3500 percent and Rs 1.2 billion were borrowed.
Copyright Business Recorder, 2024