Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Tuesday (March 08, 2005).
DAILY MONEY MARKET COMMENTS: Today morning the money market rates were indicated between the bids and offer range of 7.00%-7.40%. Few Repo deals were seen at the level of 7.25%. Asth eday progressed, the gap between bids and offers narrowed down and the first Repo deal was witnessed at the level of 7.40%. Most of the overnight Repo deals were done at the level of 7.40%.
There are very few banks who borrowed in overnight Repo at 7.25%. However in clean & call placements the overnight interest rates were 10%-11.00%. At the end of the day the interbank overnight rates were closed at 7.40% with the discounting figure of Rs 738 million.
Keeping in view today's money market we believe that tomorrow money market rates will remain on the same level since there is no inflow or ouflow from the market.

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Repo Rates (Yield p a)

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Tenor      Low Bid   High Bid   Low Offer   High Offer    Average

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Overnight   7.25       7.40       7.40        7.45           7.38

1-Week      6.25       6.50       6.50        6.75           6.50

2-Week      5.50       5.75       6.00        6.25           5.88

1-Month     5.25       5.75       5.80        6.25           5.76

2-Months    4.75       5.25       5.50        5.75           5.31

3-Months    4.50       5.00       5.25        5.50           5.06

4-Months    4.75       5.25       5.50        5.75           5.31

5-Months    5.00       5.25       5.75        6.25           5.56

6-Months    5.25       5.70       6.00        6.50           5.86

9-Months    5.50       5.80       6.25        6.75           6.08

1-Year      6.00       6.25       6.75        7.00           6.50

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Call Rates (Yield p a)

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Tenor      Low Bid   High Bid   Low Offer   High Offer    Average

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Overnight   7.50       8.00       8.50        9.50           8.38

1-Week      5.75       6.25       6.50        7.00           6.38

2-Week      5.25       5.75       6.25        6.50           5.94

1-Month     5.75       6.00       6.25        6.50           6.13

2-Month     5.25       5.75       6.00        6.25           5.81

3-Month     5.00       5.50       5.75        6.00           5.56

4-Month     5.25       5.50       6.00        6.25           5.75

5-Month     5.50       5.75       6.25        6.50           6.00

6-Month     5.75       6.00       6.50        7.00           6.31

9-Month     6.00       6.25       6.75        7.25           6.56

1-Year      6.50       6.75       7.25        7.75           7.06

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PIB Secondary Market Data

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Maturity         Yield      Range

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0.1-0.5  Years    5.25       5.50

0.6-1.0  Years    5.70       5.90

1.1-1.5  Years    6.00       6.20

1.6-2.0  Years    6.25       6.35

2.1-2.5  Years    6.40       6.50

2.6-3.0  Years    6.55       6.65

3.1-3.5  Years    6.85       7.15

3.6-4.0  Years    7.10       7.25

4.1-4.5  Years    7.25       7.35

4.6-5.0  Years    7.30       7.45

5.6-6.0  Years    7.85       8.00

6.1-6.5  Years    7.95       8.10

6.6-7.0  Years    8.05       8.20

7.1-7.5  Years    8.08       8.20

7.6-8.0  Years    8.10       8.25

8.1-8.5  Years    8.10       8.22

8.6-9.0  Years    8.10       8.25

9.1-9.5  Years    8.15       8.30

15       Years    9.20       9.30

20       Years   10.20      10.30

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FIB Secondary Market Data

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Maturity       Yield        Range

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0.1-0.5 Years   5.40         5.65

0.6-1.0 Years   5.80         6.00

1.1-1.5 Years   6.10         6.30

1.6-2.0 Years   6.35         6.45

2.1-2.5 Years   6.50         6.60

2.6-3.0 Years   6.65         6.75

3.1-3.5 Years   6.95         7.25

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Clean Deposit Market

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Tenor          Range      (% p a)

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01 Month        7.00         8.00

03 Months       7.50         8.25

06 Months       7.75         8.50

12 Months       8.00         8.75

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T-Bill Secondary Market Data

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3 Months, 6 Months &

12 Months Instruments

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Days to Maturity    Yield Range %

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0-7 Days                6.70-6.85

8-15 Days               5.85-5.95

16-30 Days              4.80-4.95

31-60 Days              4.60-4.70

61-90 Days              4.70-4.85

91-120 Days             4.90-5.00

121-180 Days            5.10-5.25

181-270 Days            5.30-5.40

271-365 Days            5.50-5.60

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Kerb Market FX Rate

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Currency        Bid         Offer

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USD            59.50        59.60

EUR            78.30        78.60

GBP           113.90       114.20

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