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CURRENCY BUYING

SELLING

US Dollar 59.9 60
Bahrain Dinar 158 158.1
Canadian $ 50.85 50.95
Euro 70.75 70.85
Hong Kong $ 7.65 7.7
Japanese Yen 0.508 0.51
Kuwaiti Dinar 204 204.1
UK Pound 103.7 103.8
Last updated: Friday 23 Dec, 2005-12.30 P.M (PST)

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3 DAYS FORECAST
In oC

CITIES MIN MAX

HUM%

FOR.

KARACHI
Today 12 26 38 Sunny
Tomorrow 11 27 38 Sunny
Day after 11 28 38 Sunny
LAHORE
Today 1 20 87 Sunny
Tomorrow 2 20 87 Sunny
Day after 2 21 87 Sunny
ISLAMABAD
Today 0 18 59 Sunny
Tomorrow 0 18 59 Sunny
Day after 0 21 59 Sunny
HUM%: Humidity In %
FOR.: Weather Forecast
updated: Fri - Sun 23-25 Dec, 2005

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.

 

KARACHI         - 021 LAHORE          - 042 ISLAMABAD    - 051 FAISALABAD   - 041 MULTAN          - 061 PESHAWAR    - 0521 CANADA          - 1 KUWAIT           - 965 INDIA               - 91 IRAN                - 98 U.K                   - 44 U.A.E                - 971 U.S.A                - 1

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  CAPITAL MARKETS
 
 

 

 

 

 
  FINEX WEEK

By SHABBIR H. KAZMI
Updated Oct 01, 2005

MONEY MARKET 

Rates remained on the higher side throughout the week and funds in overnight changed hands mostly in the band of 8.50% to 8.90%. Market saw sharp decline in rates after the T-bill auction, where State Bank of Pakistan (SBP) accepted a meager amount of Rs.8.73 billion against the heavy maturity of Rs.70 billion. This ease was temporary and later overnight trades were witnessed just below the discount rate at 8.90%.

SBP also exercised 2 OMOs for 14 and 13 days mopping up a total of Rs.33.0 billion for 7.85% and 7.80%, respectively.

One-week tenor started on a high note, quoted at 8.00% and 8.40% but later slipped down to 7.25% and 7.75% and finally closing at 7.75% and 8.25% at the end of the week. Two-week tenor started at 8.00% and 8.40% and later rested at 7.85% and 8.15% for the weekend.

One-month tenor similarly started quotes at 8.10% and 8.30% and later came down to the level were it was quoted at 7.90% and 8.10%.

T-bill auction was held by SBP for three, six and twelve month tenors. The targeted amount by SBP was Rs.50.0 billion for all the tenors, but it accepted bids worth Rs.8.735 billion collectively in all tenors. The cutoffs of the three tenors remained unchanged - three-month at 8.1000%, six-month at 8.1388% and twelve-month at 8.7907%. SBP did not change the cutoffs due to the controlled inflationary pressure in the month of August with CPI at 8.41% year-on-year (Y-o-Y) as compared to previous month's 8.99% Y-o-Y.

FUTURE OUTLOOK

With no major inflow in the system in the week to come rates are likely to remain at the higher side.

YIELD PROFILE

FEDERAL INVESTMENT BONDS

.

THIS WEEK

1 WEEK AGO

1 YEAR AGO

1 Year

08.95

08.95

04.30

2 Year

08.95

08.95

05.00

3 Year

08.95

08.95

05.30

4 Year

09.00

09.00

06.20

5 Year

09.00

09.00

06.30

10 Year

09.05

09.05

08.45

 


 

AUCTIONS

BID DATE

INSTRUMENT

RESULT

SETTLEMENT

Sep 28 T-Bill 0 3 Mth Sep 28 Sep 29
Sep 28 T-Bill 06 Mth Sep 28 Sep 29
Sep 28 T-Bill 12 Mth Sep 28 Sep 29

TARGET AMOUNT

BID AMOUNT

ACCEPTED AMOUNT

Rs. 50,000 Mln 

Rs. 44,185 Mln 

Rs. 8,735 Mln

 


 

MATURITIES

INSTRUMENT

DATE

AMOUNT

T-Bill

13 Oct

03,000 mln

FIB/PIB

19 Oct

01,164 mln

T-Bill

17 Oct

15,110 mln.

 


 

REPO RATES
 

THIS WEEK

1 WEEK AGO

1 YEAR AGO

Overnight

07.75

08.70

00.35

1 Week

07.90

08.30

00.75

1 Month

08.05

08.20

02.10

3 Month

08.15

08.15

02.60

6 Month

08.30

08.35

03.10

1 Year

08.80

08.80

03.60

 


 

TREASURY BILL RATES

MATURING THIS WEEK 1 WEEK AGO 1 YEAR AGO

1 Month

08.10

08.20

02.30

2 Month

08.10

08.15

02.40

3 Month

08.10

08.15

02.50

4 Month

08.15

08.20

02.80

5 Month

08.15

08.20

03.10

 


 
 

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