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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 22, 2005

MONEY MARKET

No major change in trend was witnessed in the money market as it continued to carry the high rates closing position for over five weeks. The market remained almost paralyzed with no major inflows in to the system, thereby preventing the interest rates from easing. The rates have been hit majorly due to the huge drawings out of the banking system in the current month.

Overnight trades were initially quoted at levels of 8.10 - 8.30% and later moved up to the levels of 8.90 - 9.00%, matching the discount rate of the State Bank of Pakistan. Hence no major discounting (only Rs.4.65bn on Friday) was evident as market participants squared their positions giving in to the tight market situation.

One-week tenor opened at levels of 8.00 - 8.20% for the week, with a few revisits at the same level during the week it finally rested at levels of 8.30 - 8.60. Two-week tenor started quotes at same levels as one-week, 8.00 - 8.20% and gradually improved to close at the week's level.

One-month tenor was quoted initially at 8.10 - 8.20% and later moving to the levels of 8.30 - 8.50%. Three-month tenor was majorly seen at levels 8.20 - 8.30% against T-bills.

FUTURE OUTLOOK

The money market for the week ahead is likely to remain on the high side. The inflows of about Rs.20billion (Rs.5 billion from OMO and Rs.15billion from the T-bill maturity) are expected to affect little if any, because the T-bill auction for all the three tenors are due in the coming week. The cut-offs from the auctions are expected to remain at previous levels with no major change.

YIELD PROFILE

FEDERAL INVESTMENT BONDS

 

THIS WEEK

1 WEEK AGO

1 YEAR AGO

1 Year

08.95

08.95

04.50

2 Year

08.95

08.95

05.40

3 Year

08.95

08.95

05.55

4 Year

09.00

09.00

06.60

5 Year

09.00

09.00

06.65

10 Year

09.05

09.05

08.30

 


 

AUCTIONS

BID DATE

INSTRUMENT

RESULT

SETTLEMENT

Oct 12

T-Bill 03 Mth.

Oct 12

Oct 13

Oct 12

T-Bill 06 Mth.

Oct 12

Oct 13

Oct 12

T-Bill 12 Mth.

Oct 12

Oct 13

TARGET AMOUNT

BID AMOUNT

ACCEPTED AMOUNT

Rs. 5,000 Mln 

Rs. 16,850 Mln  

Rs. 4,400 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

08.65

08.75

04.00

1 Week

08.40

0825

03.00

1 Month

08.30

08.15

02.95

3 Month

08.30

08.25

03.10

6 Month

08.40

08.40

03.30

1 Year

08.80

08.80

03.90

 


 

TREASURY BILL RATES

MATURING THIS WEEK 1 WEEK AGO 1 YEAR AGO

1 Month

08.25

08.20

03.00

2 Month

08.20

08.20

03.00

3 Month

08.20

08.20

03.00

4 Month

08.25

08.25

03.10

5 Month

08.25

08.25

03.15

 


 
 

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