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FINEX WEEK

  1. The KASB review
  2. Finex week

Updated on August 01, 1999

Short Term

Overnight rates remained at the higher end of the spectrum throughout the week with occasional dips. Trading was mostly witnessed at 12.90% but bids fell off to 12.00%. It was on the OMO maturity of Rs. 8.8 billion that trading was witnessed at 2.00% with levels finally closing at 1.50%. Discounting was also seen on Thursday and Friday but the figure did not cross the billion mark. One week levels in the earlier parts of week were around the range of 6.50% and 7.50% with activity around the same levels.

Medium Term

Term levels kept on sliding throughout the entire week with trades being witnessed at all levels. One month bids fell from a high of 6.00% on Monday to as low as 3.50% on Saturday. The fall in levels was no surprise for the market keeping in mind the magnitude of the maturities expected during August. Amounts were dealt at 5.75% and later heavy trades we also witnessed at 3.75% and 4.005. Two month levels after at falling the one month level trading at levels of 5.00% but later activity was also seen at 4.50%. Bids and offers in forward dates were available at 4.50% and 4.80% respectively. The three and six month tenors were not quite as active as the one and two but sporadic amounts were seen being dealt at 5.75% in three months and at 6.75% in the six month tenor.

Lone Term

Long dated instruments failed to gain any major interest, eitherway.

Federal Investment Bond

This Week 1 Wk. Ago 1 Yr. Ago
1 Year 09.00 09.10 16.00%
2 Year 12.00 09.10 16.00%
3 Year 12.75 13.00 16.25%
4 Year 13.25 13.00 16.25%
5 Year 13.25 13.90 16.75%
10 Year 14.00 14.25 17.50%

Bid Date Instrument Result Settlement

Jul 21 T-BILL Jul 21 Jul 22

Target Amount Bid Amount Accented Amount

Rs. 5.80 Bln. Rs.35.219 Bln Rs.6.960 Bln.

instrument Date Amount

T-Bill 01 Aug 10,730 Mln

T-Bill 06 Aug 2,500 Mln

T-Bill 15 Aug 9,408 Mln

FIB 05 16 Aug 265 Mln

FIB 03 29 Aug 265 Mln

Repo Rates

This Week 1 WK Ago 1 Year Ago

Overnight 01.50 12.80 01.00

1 Week 02.00 11.75 00.75

1 Month 03.65 06.35 09.75

3 Month 05.60 06.60 13.00

6 Month 06.35 07.15 14.35

1 Year 09.00 09.10 N.A.

This Week 1 WK Ago 1 Year Ago 1 Month 04.50 07.00 10.50

1 Month 04.50 07.00 10.50

2 Month 05.00 06.75 12.50

3 Month 05.75 06.90 13.25

4 Month 06.10 07.10 13.75

5 Month 06.50 07.25 14.25