The State Bank of Pakistan (SBP) successfully raised Rs629.26 billion through an auction of floating rate Pakistan Investment Bonds (PIBs) on Wednesday, surpassing the target of Rs325 billion. These bonds, issued for tenures of 2, 5, and 10 years, attracted strong investor interest.

The auction results showed that the cut-off price for the 2-year PIB-PFL semiannual was 0, while the 5-year bond was sold at 96.9755, and the 10-year bond at 93.1094.

A total of Rs970 billion in bids were received, with Rs620 billion raised through competitive bidding and an additional Rs9.26 billion through non-competitive bids.

For comparison, the last auction held on February 19, 2025, saw SBP selling Rs431.3 billion worth of PIBs-PFL against a target of Rs350 billion. At that time, the cut-off price stood at 96.7713 for the 5-year bond and 92.9053 for the 10-year bond.

This latest auction reflects sustained demand for Pakistan’s investment bonds, highlighting confidence in the country’s financial instruments.