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CURRENCY BUYING

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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
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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 Nov 19, 2005

MONEY MARKET

Money market saw the unexpected dip in rates in all the tenors. Overnight rates took a nosedive with the SBP's injection into the banking system through an OMO. The total injected amount of Rs.26.28billon pushed the overnight rates downwards to eight weeks low.

Overnight trades were initially tagged at levels o f 8.90 - 9.00%, after ranging on high side for over two months. The rates slipped down to lows at 2.50 - 3.00%, and recovered slightly to close at 2.50 - 3.50% for the weekend.

One-week tenor opened at levels 8.50 - 8.80%. As with overnight rates, these too came down with SBP's injections to close at~6.75 - 7 25 % for the week under review. Two-week initially tagged close to one-week at 8.50 - 8.70% moved in the same pattern to close at low end of levels 7.35 - 7.75%.

One-month tenor initially quoted at levels 8.40 - 8.60%, experienced drop in rates to finally close at levels 8.00 - 8.20%. Three-month tenor opened at narrow-quoted levels of 8.40 - 8.50% However, with the inflows into the banking system, the rates widened and fell to low levels of 8.15 - 8.25% and closed the week at the same levels.

FUTURE OUTLOOK

The money market is likely to trade on the higher side unless SBP injects funds into the market. During this week, a T-Bill maturity of about Rs.97bn will be matched with a fresh T-bills auction in all the three tenors. The cut-offs for the three tenors are expected to remain in proximity with the previous rates.

YIELD PROFILE

FEDERAL INVESTMENT BONDS

 

THIS WEEK

1 WEEK AGO

1 YEAR AGO

1 Year

08.95

08.95

05.00

2 Year

08.95

08.95

05.25

3 Year

08.95

08.95

05.40

4 Year

09.00

09.00

06.30

5 Year

09.00

09.00

06.40

10 Year

09.05

09.05

07.49

 


 

AUCTIONS

BID DATE

INSTRUMENT

RESULT

SETTLEMENT

Nov 08

T-Bill 03 Mth.

Nov 08

Nov 10

Nov 08

T-Bill 06 Mth.

Nov 08

Nov 10

Nov 08

T-Bill 12 Mth.

Nov 08

Nov 10

TARGET AMOUNT

BID AMOUNT

ACCEPTED AMOUNT

Rs. 5,000 Mln 

Rs. 20,953 Mln

Rs. 7,651 Mln

 


 

MATURITIES

INSTRUMENT

DATE

AMOUNT

T-Bill

11 Nov

09,025 mln

FIB/PIB

16 Nov

079 mln

T-Bill

24 Nov

96,935 mln

 


 

REPO RATES
 

THIS WEEK

1 WEEK AGO

1 YEAR AGO

Overnight

08.85

08.95

07.4S

1 Week

08.50

08.65

05.00

1 Month

08.25

08.50

03.95

3 Month

08.25

08.45

04.05

6 Month

08.40

08.50

04.25

1Year

08.70

08.80

04.90

 


 

TREASURY BILL RATES

MATURING THIS WEEK 1 WEEK AGO 1 YEAR AGO

1 Month

08.15

08.45

04.00

2 Month

08.10

08.40

03.80

3 Month

08.10

08.30

03.75

4 Month

08.15

08.25

03.55

5 Month

08.15

08.2S

03.90

 


 
 

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