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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 Dec 03, 2005

MONEY MARKET

Money market remained on a high note for the past week. The rates started from the down side and improved further until the weekend. The State Bank of Pakistan (SBP) exercised two OMOs, where SBP borrowed a total of Rs.19.75 billion funds from the market. The two OMOs were part of the SBP's plan of removal of excess funds from the market, to keep intact with the economic policies regulated by the central bank.

Overnight trades were initially quoted at levels of 7.25 - 7.75%, but as the week progressed the rates improved to close at levels of 8.85 - 8.95, just under SBP's discount rate. Discounting was un-witnessed, as market players squared their positions from with in the market.

One-week tenor started at levels 8.25 - 8.35%, and continued with the high swing, to close at levels 8.30 - 8.60%. Two-week initially tagged 8.20 - 8.40% moved in the similar manner as one-week to close at high levels of 8.35 - 8.55%.

One-month tenor initially quoted at levels 8.20 - 8.40%, with a few revisits at the same opening levels throughout the week the tenor rested at levels 8.35 - 8.55%. Three-month tenor opened at levels of 8.30 - 8.40%, with movements upwards, the tenor closed at levels 8.30 - 8.40.

FUTURE OUTLOOK

The market is expected to remain slightly lower comparatively to the out going week. The net inflows in to the system expected around Rs.54.599 billion are likely to match close with the upcoming T-Bill auctions in all the three tenors. The cutoffs for the three tenors are expected to remain in proximity with the last cutoffs.

YIELD PROFILE

FEDERAL INVESTMENT BONDS

 

THIS WEEK

1 WEEK AGO

1 YEAR AGO

1 Year

08.95

08.95

05.10

2 Year

08.95

08.95

05.35

3 Year

08.95

08.95

05.70

4 Year

09.00

09.00

06.40

5 Year

09.00

09.00

06.80

10 Year

09.05

09.05

07.80

 


AUCTIONS

BID DATE

INSTRUMENT

RESULT

SETTLEMENT

Nov 23

T-Bill 03 Mth.

Nov 23

Nov 24

Nov 23

T-Bill 06 Mth.

Nov 23

Nov 24

Nov 23

T-Bill 12 Mth.

Nov 23

Nov 24

TARGET AMOUNT

BID AMOUNT

ACCEPTED AMOUNT

Rs. 90,000 Mln

Rs. 78,245 Mln

Rs. 61,945 Mln

 


 

MATURITIES

INSTRUMENT

DATE

AMOUNT

T-Bill

08 Dec

28,626 Mln.

FIB/PIB

14 Dec

213 Mln.

FIB/PIB

21 Dec

310 Mln.

T-Bill

22 Dec

41,243 Mln.

 


 

REPO RATES
 

THIS WEEK

1 WEEK AGO

1 YEAR AGO

Overnight

08.75

08.50

02.75

1 Week

08.45

08.25

02.50

1 Month

08.40

08.35

04.25

3 Month

08.35

08.35

04.10

6 Month

08.40

08.45

04.40

1 Year

08.70

08.70

04.85

 


 

TREASURY BILL RATES

MATURING THIS WEEK 1 WEEK AGO 1 YEAR AGO

1 Month

08.30

08.25

04.55

2 Month

08.25

08.15

04.00

3 Month

08.20

08.15

03.90

4 Month

08.35

08.25

04.00

5 Month

08.35

08.30

04.15

 


 
 

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