The State Bank of Pakistan (SBP) on Wednesday auctioned Pakistan Investment Bonds (PIBs) worth Rs 309.415 billion for 3, 5 and 10 years in fixed and floating rate bonds.

Cut off Yields for the Fixed Rate Bonds increased by 55 basis points to 14.25 percent for 3 years, remained the same at 13.80 percent for 5 years while the 10 year Cut off declined by 15 basis points to 13.55 percent.

The SBP had received bids worth Rs.699.07 Billion for the fixed Rate PIB’s and Rs.128.150 Billion for the floating rate bond. The total goal of the auction was Rs.100 billion for PIBs in both the fixed and floating rate categories.

Out of the Rs.168.592 Billion for the 3 Year PIB, SBP accepted Rs.120.437 Billion, for the 5 Year PIB it accepted Rs.55.415 Billion out of Rs.268.747 Billion while it accepted Rs.25.201 Billion from Rs.261.73 Billion for 10 Years. In the floating rate auction, it accepted Rs.84.150 Billion.