Karachi: The authorities have sold Pakistan Investment Bonds valued at Rs 252 billion.
Auctions Rs 252 billion worth of PIBs
As per the State Bank, the government has conducted an auction of PIBs amounting to 252 billion, encompassing the issuance of 3-, 5-, and 10-year notes.
The State Bank has reported that the government has offloaded three-year PIBs amounting to Rs 139 billion, with the cut-off yield for three-year PIBs dropping by 180 basis points to 17.39 percent.
According to the State Bank, 5-year PIBs worth Rs 46 billion were auctioned, and the cut-off yield for 5-year PIBs saw a decrease of 100 basis points to 15.95%.
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Besides this, the authorities have traded 10-year PIBs valued at Rs 66 billion. The cut-off yield of 10-year PIBs dropped by 15 basis points to 15.1%. As for the acquisition of 15, 20, and 30-year bonds, no bids were received.