FINEX WEEK

 

 

By SHABBIR H. KAZMI
Updated April 12, 2003

 

The past week interbank market experience the roller costar ride and trades in overnight was witnessed in the wide band of 1.50% and 6.00%. Market opened with rates at the higher side of the spectrum and initially deals were executed in the band of 5.50% and 6.00%. Due to the overnight rates, all tenors were remained under pressure for most part of the week and one and two week traded as high as 4.00% and 3.50%.

 

 

No major covering was seen in long term and borrowers restricted them self to medium term. Where aggressive covering was evident in one month and deals were struck around 2.00%. It was on Friday when rates fall like nine pins this fall in rates were mainly because of the inflows which earlier went out from the system on behalf of quarterly payments due to which overnight, one and two weeks funds changed hands around 1.50%, 2.00% and 1.75% respectively. Rates in one month also fell drastically with trades taking place in the range of 1.50% and 1.75%. Similar trend was also seen in three month tenor where nominal trades took place at 1.90%. No major selling interest was present in papers and trades in PIB ten years were witnessed as high as 5.00%.

YIELD PROFILE

FEDERAL INVESTMENT BONDS

.

THIS WEEK

1 WEEK AGO

1 YEAR AGO

1 Year

02.25

02.60

07.10%

2 Year

02.90

02.90

07.75%

3 Year

03.15

03.10

08.65%

4 Year

03.15

03.10

08.65%

5 Year

03.60

03.60

09.65%

10 Year

05.00

04.60

10.75%

 

 

 


 

AUCTIONS

BID DATE

INSTRUMENT

RESULT

SETTLEMENT

Apr 02 T-Bill 06 mth Apr 02 Apr 03

TARGET AMOUNT

BID AMOUNT

ACCEPTED AMOUNT

Rs.5,000 Mln

Rs.35,325 Mln.

Rs.4,150 Mln.

 


 

MATURITIES

INSTRUMENT

DATE

AMOUNT

T-Bill

03 Apr

1,050 Mln

T-Bill

17 Apr

23,605 Mln.

 


 

REPO RATES

 

THIS WEEK

1 WEEK AGO

1 YEAR AGO

Overnight

01.75

04.50

08.90

1 Week

01.75

04.00

06.25

1 Month

01.65

02.25

05.95

3 Month

01.76

02.00

06.00

6 Month

01.95

02.25

06.35

1 Year

02.50

02.55

06.75

 


 

TREASURY BILL RATES
MATURING THIS WEEK 1 WEEK AGO 1 YEAR AGO

1 Month

02.00

02.75

06.50

2 Month

01.90

02.20

06.10

3 Month

01.80

02.10

06.00

4 Month

01.85

02.00

06.25

5 Month

01.85

02.10

06.30