A sharp reduction of over 100 basis points was noted for Pakistan Investment Bonds of all tenures during the auction conducted on November 19. The government managed to raise Rs150.327bn from the exercise.
Of the total, three-year PIBs fetched Rs72.204bn at a cut off yield of 10.8986pc, followed by 10-year PIBs with Rs50.4bn at 11.9986pc and five-year PIBs with Rs27.722bn at 11.1003 pc. No bids were accepted for 20 year PIBs. The cut-off yields in the previous PIB auction on October 22 had ranged between 12-13.4 pc.
The central bank had received total bids worth Rs163.894bn. Of these, three-year PIBs had attracted Rs78.906bn, followed by 10-year bonds with Rs55.693bn, five-year PIBs with Rs28.77bn and 20-year PIBs with Rs525.04mn.
According to the weekly statement of position of all scheduled banks for the week ending November 7, deposits and other accounts of all scheduled banks declined 1.04pc to Rs8,075.743bn, against the prior week’s figure of Rs8,160.094bn.
