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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 17, 2005

MONEY MARKET

The market initially showed a declining trend followed by recovery later in the week. The recovery was reflective with the State Bank of Pakistan's OMO of Rs.26billion from the banking system. The market players were able to square their positions as the rates for overnight remained relatively low as compared to the previous week, and no discounting was reported for the weekend.

Overnight trades initially tagged at levels of 7.00 - 7.75%, however plunged sharply by mid-week at levels 2.00 - 3.00%. The last two days however, overnight showed strong recovery to close at levels 6.00 - 7.00%.

One-week tenor started at levels 7.25 - 7.75% and moved downwards to 6.50 - 7.00% middle of the week. The tenor closed at levels 6.75 - 7.25% for the weekend. Two-week funds initially tagged at 7.60 - 7.80% moved in the similar manner as one-week to close at levels of 7 00 - 7.50%.

One-month tenor initially quoted at levels 7.80 - 8.20% remained unchanged till the close of the week. Similar trend was noticed for three-month tenor at 8.10 - 8.30%.

FUTURE OUTLOOK

The rates appear to remain on the higher side for the week, as SBP's strict monetary policy to control inflation. An inflow of around Rs.70billion (T-bills maturity of Rs.41 bn and OMO maturities of Rs.29bn) for the week is expected to match against the T-Bills auction scheduled. The cutoffs of the T-Bills are likely to remain unchanged.

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

3Year

08.95

08.95

05.75

4Year

09.00

09.00

06.55

5Year

09.00

09.00

06.75

10 Year

09.05

09.05

07.82

 


AUCTIONS

BID DATE

INSTRUMENT

RESULT

SETTLEMENT

Dec 07 

T-Bill 03 Mth.

Dec 07

Dec 08

Dec 07 

T-Bill 06 Mth.

Dec 07

Dec 08

Dec 07 

T-Bill 12 Mth.

Dec 07

Dec 08

TARGET AMOUNT

BID AMOUNT

ACCEPTED AMOUNT

Rs. 35,000 Mln 

Rs. 36,957 Mln 

Rs. 19,600 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

08.25

06.25

02.50

1 Week

07.90

07.50

02 50

1 Month

08.05

08.05

03.85

3 Month

08.15

08.20

03.95

6 Month

08.30

08.35

04.10

1 Year

08.65

08.65

04.60


 

TREASURY BILL RATES

MATURING THIS WEEK 1 WEEK AGO 1 YEAR AGO

1 Month

08.10

08.15

04.15

2 Month

08.00

08.15

03.90

3 Month

08.05

08.15

03.85

4 Month

08.15

08.25

03.95

5 Month

08.20

08.25

04.00

 


 
 

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