The State Bank of Pakistan (SBP) held an auction on Tuesday in which it sold Rs 210.490 billion worth of fixed rate PIB bonds for 3, 5, 10, 15 and 20 years.

The target of the auction was Rs 125 billion, for which SBP received bids of Rs 527.894 billion.

SBP received offers of Rs 254.53 billion for 3 years, Rs 156.38 billion for 5 years, Rs 77.97 billion for 10 years, Rs 27 billion for 15 years and Rs 12 billion for 20 years.

SBP accepted Rs.50.456 billion for 3 years at a rate of 9.27%, Rs 77.248 billion for 5 years at 9.85%, Rs.47.50 billion for 10 years at 10.2499%, Rs 12 billion for 15 years and 20 years each at 10. 4774 and 10.6074%.

Moreover, SBP raised Rs 3.095 billion through non-competitive bidding and Rs 8.20 billion through short sales, bringing the total amount accepted to Rs 210.499 million.

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