Updated on Oct 18, 1999
Short Term
The inter-bank market was tight throughout the past week with rates
closing at 12.95%. The overnight market remaining tight and short, even with an inflow of
Rs. 8 billion by way of an OMO injection, did come as surprise. The market had been
running short by approximately Rs. 2-3 billion before the bank holiday on Wednesday but
the discounting on Thursday was yet again Rs. 1.5 billion and rose to Rs. 5 billion on
Friday. Trades were conducted between 11.50% and 12.95% on Saturday without any
discounting being conducted at the end of the day.
Medium Term
Term rates moved between wide band on account of the OMO injection, the
change in the discounting figures and also due to the uncertainty in the market due to the
change in the country's political setup. One month levels were hovering in the band of
11.10% and 11.50% in the early parts of the week but after the injection on Thursday rates
eased off with bids and offers falling to as low as 9.40% and 9.75%. Two month rates fell
off sharply with trades in quick session at 10.00% and later at 9.50%. However rates fell
off steeply on Friday with few desperate lenders placing funds even at 9.00% before rates
rose back upto 9.75%. The three and six month tenors were quiet with no trades being
reported as offers remained at close to 10.25% and 10.50% respectively, at the end of the
week.
Long Term
No significant interest was evident in long term instruments.
|
FEDERAL INVESTMENT BONDS |
| |
THIS WEEK |
1 WK AGO |
1 YR AGO |
| 1 Year |
11.40 |
11.75 |
15.00% |
| 2 Year |
12.30 |
12.50 |
15.00% |
| 3 Year |
13.50 |
13.25 |
15.50% |
| 4 Year |
13.75 |
13.75 |
15.75% |
| 5 Year |
14.00 |
14.00 |
16.50% |
| 10 Year |
14.50 |
14.50 |
17.50% |
| AUCTIONS |
| Bid Date |
Instrument |
Result |
Settlement |
| Oct 06 |
T-BILL |
Oct 06 |
Oct 07 |
Amount
Asked |
Bid
Amount |
1 Year
Ago |
| Rs.2.2
Bln. |
Rs.7.210 Bln |
Rs2.300
Bln. |
| MATURITIES |
| Instrument |
Data |
Amount |
| T-Bill |
13 Oct |
2,200 Mln |
| T-Bill |
19 Oct |
175 Mln |
| T-Bill |
20 Oct |
1,210 Mln |
REPO RATES |
|
This Week |
1 Wk Ago |
1 Yr. Ago |
| Overnight |
12.95 |
12.95 |
16.45 |
| 1 Week |
12.50 |
12.60 |
16.35 |
| 1 Month |
09.90 |
11.20 |
14.65 |
| 3 Month |
10.30 |
10.55 |
13.85 |
| 6 Month |
10.80 |
10.75 |
13.90 |
| 1 Year |
11.40 |
11.75 |
N. A. |
| TREASURY BILL
RATES |
| Maturing |
This Week |
1 Wk Ago |
1 Yr Ago |
| 1 Month |
11.25 |
11.90 |
14.75 |
| 2 Month |
10.20 |
11.20 |
14.25 |
| 3 Month |
10.60 |
10.65 |
14.00 |
| 4 Month |
10.70 |
10.65 |
14.00 |
| 5 Month |
10.75 |
10.75 |
14.10 |
