KARACHI: The government has smartly borrowed slightly less amount to maintain yields in the latest Sukuk auction at Pakistan Stock Exchange.

For Rs 100 billion target investors offered an amount of close to Rs 500 billion. Many offers were at higher yields amid expectations of delay in rate cut.

However, the government picked Rs 87 billion and kept the rates near to last auction.

Sukuk auction results in resounding success

The 1-year Sukuk cut-off yield came to 19.49 percent from 19.51 percent in last auction. Similarly 3-year Sukuk cut-off was 16.05 percent while 5-year at 15.49 percent.

Copyright Business Recorder, 2024