The State Bank of Pakistan (SBP) held Pakistan Investment Bonds (PIBs) auction on Monday where cut-off yields witnessed an increase of 246 basis points.
SBP had set target to raise PKR 100bn while it raised PKR117bn from the auction against PKR 288bn worth of bids received.
The cut-off yield on 5-years PIB rose by 2.41% to 11.5%, raising PKR 56.45bn in the auction.
The cut-off yield on 10-years PIB marked an increase of 1.96% to 11.79% while raising PKR 35.5bn while Bids for 15-years PIBs with no bids for 20 and 30-year PIBs.
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