PAGE PREVIOUS ISSUE

 

   

 
 
 
 
 
 
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)

MORE

 

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

MORE

 
.

 

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

MORE

 
  CAPITAL MARKETS
 
 

 

 

 

 
  FINEX WEEK

By SHABBIR H. KAZMI
Updated Oct 29, 2005

The market continued carrying the high rates closing momentum over the past several weeks as expected. The market carried on a high note, as no major net inflow was scheduled in to the system, and the funds withdrawn from the banks paralyzed the rates to rest on the downside.

Overnight trades quoted in the beginning of the week were at levels 8.25 - 8.75%, and as the week progressed the rates scaled high enough to meet the State Bank of Pakistan's (SBP) discount level. Overnight rates rested at levels 8.90 - 9.00% at weekend. Market players who were unable to square up their positions.had to resort to SBP's rescue of discounting. The week witnessed discounting of Rs.27.29 billion.

One-week tenor was initially quoted at levels 8.30 - 8.50%, and fairly stood between the same level for most of the week, but later closed at levels 8.70 - 9.00% because of the designated holidays coming in the next week and maturity of the deals falling for over a week. Two-week tenor started at levels 8.40 - 8.60%, there were movements up and down witnessed in this tenor. But rested at high levels of 8.60 - 8.80% for the weekend.

SBP also exercised its scheduled auction for TBills of all the three tenors i.e. 3-month, 6-month and 12-months. The target amount set by SBP was Rs.5.0billion of which it accepted bids worth Rs.19.75 billion in all the three tenors collectively. The cutoff in the three tenors remained same as previous 5 auctions of T-Bills. The cut-off remained unchanged due to SBP's monetary policy regulation and the controlled level of inflation. Major participation was seen in 12-month tenor, as market players were interested in the longer tenor paper with absence of PIB auctions.

FUTURE OUTLOOK

The market ahead is likely to remain on a high note with no major inflows, and due to a shorter week ahead. And banks are expected to experience further the liquidity crunch with Eid drawing closer

YIELD PROFILE

FEDERAL INVESTMENT BONDS

 

THIS WEEK

1 WEEK AGO

1 YEAR AGO

1 Year

08.95

08.95

04.40

2 Year

08.95

08.95

05.00

3 Year

08.95

08.95

05.25

4 Year

09.00

09.00

06.20

5 Year

09.00

09.00

06.25

10 Year

09.05

09.05

08.48

 


 

AUCTIONS

BID DATE

INSTRUMENT

RESULT

SETTLEMENT

Oct 26

T-Bill 03 Mth.

Oct 26

Oct 27

Oct 26

T-Bill 06 Mth.

Oct 26

Oct 27

Oct 26

T-Bill 12 Mth.

Oct 26

Oct 27

TARGET AMOUNT

BID AMOUNT

ACCEPTED AMOUNT

Rs. 5,000 Mln 

Rs. 28,000 Mln 

Rs.19,750 Mln

 


 

MATURITIES

INSTRUMENT

DATE

AMOUNT

T-Bill

13 Oct

03,000 mln

FIB/PIB

19 Oct

01,164 mln

T-Bill

27 Oct

15,110 mln.

 


 

REPO RATES
 

THIS WEEK

1 WEEK AGO

1 YEAR AGO

Overnight

08.70

08.65

06 75

1 Week

08.65

08.40

01 75

1 Month

08.45

08.30

02.45

3 Month

08.35

08.30

02.60

6 Month

08.45

08.40

03.10

 


 

TREASURY BILL RATES

MATURING THIS WEEK 1 WEEK AGO 1 YEAR AGO

1 Month

08.25

08.25

02.50

2 Month

08.15

08.20

02.55

3 Month

08.15

08.20

02.60

4 Month

08.20

08.25

02.90

5 Month

08.20

08.25

03.20

 


 
 

Pakistan & Gulf Economist 2005    Privacy Policy   |   Terms of Uses