KARACHI January 27, 2022: The government on January 27, 2022 raised PKR 133.5 billion through an auction of fixed rate Pakistan Investment Bonds (PIBs) compared to target of PKR 100 billion, as per data published by State Bank of Pakistan (SBP).
Cut-off yields dropped below 11 percent across all maturities for the first time since 15th September PIB Auction.
The cut-off yields for 3 years dropped by 71 basis points percent to 10.79 percent and cut-off yield for 5 years dropped by 72 basis points to 10.8555 percent. While the cut-off yield also dropped by 79 basis points to 10.97 percent for 10 years PIB.
The government borrowed amount of PKR 84 billion, PKR 40 billion and PKR 10 billion from the auction of 3 years, 5 years and 10 years PIBs, respectively. The target for current auction was set at PKR 30 billion for 3 years PIBs, PKR 25 billion for 5 years PIBs, PKR 20 billion for 10 years PIBs, PKR 15 billion for 15 years PIBs, PKR 5 billion for 20 years PIBs and PKR 5 billion for 30 years PIBs .
Investors did not bid for 30 years while government reject the bids for 15 years and 20 years PIBs.
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