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 Dec 24, 2005

MONEY MARKET

The market recovered offering attractive borrowing rates after a steady decline during the week. The market remained liquid subsequent to the State Bank of Pakistan's (SBP) T-Bills auction, and no discounting was reported for the weekend.

Overnight trades initially quoted at levels of 8.00 - 8.50%, showed a steady decline during the week. However the rates plunged sharply by last working day to close at levels 1.25 - 1.75% compared to previous day's quote at levels 8.25 - 8.75%.

One-week tenor quoted initially~at 7.80 - 8.10% gained strength by mid-week. Later during the week however it maintained levels of 6.50 - 7.50%. Two-week initially tagged at levels 8.10 - 8.50% moved in the similar manner as one-week to close at levels of 7.75 - 8.25%.

One-month tenor, which started at levels 7.90 - 8.20%, remained unchanged till the close of the week. Similar trend was noticed for three-month tenor at 8.00 - 8.30%.

SBP exercised its scheduled auction for T-Bills on Wednesday of all the three tenors i.e. 3-month, 6month and 12-months. The participants were eager to acquire the bills therefore bid a heavy amount of Rs.95.546billion against announced target of Rs.45billion. Despite heavy participation, SBP maintained its previous T-Bills cutoff rates in the respective maturities and accepted Rs.74.196billion against all three maturities.

FUTURE OUTLOOK

The rates are expected to gain strength during the course of the week, if SBP conducts OMOs.

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

05.75

4 Year

09.00

09.00

06.45

5 Year

09.00

09.00

06.75

10 Year

09.05

09.05

07 69

 


AUCTIONS

BID DATE

INSTRUMENT

RESULT

SETTLEMENT

Dec 21

T-Bill 03 Mth.

Dec 21

Dec 22

Dec 21

T-Bill 06 Mth.

Dec 21

Dec 22

Dec 21

T-Bill 12 Mth.

Dec 21

Dec 22

TARGET AMOUNT

BID AMOUNT

ACCEPTED AMOUNT

Rs. 45,000 Mln 

Rs. 95,546 Mln 

Rs. 74,196 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

08.25

01.00

1 Week

08.00

07.90

02.50

1 Month

08.15

08.05

03.65

3 Month

08.20

08.15

03.88

6 Month

08.35

08.30

0400

1 Year

08.70

08.65

04.50

 


 

TREASURY BILL RATES

MATURING THIS WEEK 1 WEEK AGO 1 YEAR AGO

1 Month

08.15

08.10

03.95

2 Month

08.10

08.00

03.70

3 Month

08.10

08.05

03.75

4 Month

08.20

08.15

03.85

5 Month

08.25

08.20

03.90


 
 

Pakistan & Gulf Economist 2005    Privacy Policy   |   Terms of Uses