Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Wednesday (March 26, 2008).
DAILY MONEY MARKET COMMENTS: Money market initiated at the level of 9.25% - 9.50%. In Clean, the trading levels varied between 9.75% - 10.25% and in Call most of the deal were done with in the range of 9.50% - 10.25%. Money market closed at the level of 10.00% - 10.25%. In 3,6 and 12 months T-Bill aution the SBP mopped-up only PKR 10 million @10.1235 in 12 months and rejected the bids for 3 and 6 months T-Bills.
For Thursday it is expected that money market would trade at the level of 8.50% - 9.00% if OMO is conducted by SBP.

=================================================================

Repo Rates (Yield p a)

-----------------------------------------------------------------

Tenor      Low Bid   High Bid   Low Offer   High Offer    Average

=================================================================

Overnight    7.50      10.25       7.75        10.40         8.98

1-Week       9.25       9.65       9.50         9.75         9.54

2-Weeks      9.40       9.75       9.60         9.85         9.65

1-Month      9.50       9.70       9.60         9.80         9.65

2-Months     9.60       9.85       9.70         9.90         9.76

3-Months     9.65       9.90       9.85        10.00         9.85

4-Months     9.75       9.90       9.85        10.00         9.88

5-Months     9.75       9.90       9.85        10.00         9.88

6-Months     9.75      10.00       9.85        10.10         9.93

9-Months     9.75      10.00       9.90        10.20         9.96

1-Year      10.00      10.15      10.10        10.25        10.13

=================================================================

Call Rates (Yield p a)

-----------------------------------------------------------------

Tenor      Low Bid   High Bid   Low Offer   High Offer    Average

=================================================================

Overnight    7.75      10.25       8.00        10.50         9.13

1-Week       9.50      10.25       9.75        10.40         9.98

2-Weeks      9.75      10.25      10.00        10.40        10.10

1-Month      9.90      10.40      10.10        10.50        10.23

2-Months     9.90      10.40      10.25        10.60        10.29

3-Months    10.00      10.40      10.25        10.50        10.29

4-Months    10.00      10.50      10.25        10.75        10.38

5-Months    10.00      10.50      10.25        10.75        10.38

6-Months    10.15      10.60      10.40        10.75        10.48

9-Months    10.25      10.75      10.50        11.00        10.63

1-Year      10.25      10.75      10.50        11.00        10.63

=================================================================

=================================

PIB Secondary Market Data

---------------------------------

Maturity          Yield     Range

=================================

0.1-0.5 Years      9.75      9.90

0.6-1.0 Years     10.25     10.30

1.1-1.5 Years     10.25     10.35

1.6-2.0 Years     10.30     10.40

2.1-2.5 Years     10.35     10.45

2.6-3.0 Years     10.40     10.50

3.1-3.5 Years     10.40     10.50

3.6-4.0 Years     10.50     10.60

4.1-4.5 Years     10.50     10.60

4.6-5.0 Years     10.55     10.65

5.1-5.5 Years     10.60     10.70

5.6-6.0 Years     10.65     10.75

6.1-6.5 Years     10.75     10.85

6.6-7.0 Years     10.75     10.85

7.1-7.5 Years     10.85     10.95

7.6-8.0 Years     11.10     11.20

8.1-8.5 Years     11.15     11.25

8.6-9.0 Years     11.25     11.35

9.1-9.5 Years     11.35     11.45

9.5-10.0Years     11.40     11.50

15 Years          12.00     12.20

20 Years          12.25     12.35

30 Years          12.40     12.60

=================================

Clean Deposit Market

---------------------------------

Tenor          Range      (% p a)

=================================

1 Month        10.25        10.50

3 Months       10.10        10.40

6 Months       10.25        10.75

12 Months      10.50        11.00

=================================

T-Bill Secondary Market Data

=================================

3 Months, 6 Months &

12 Months Instruments

=================================

Days to Maturity    Yield Range %

=================================

0-7 Days             100.25-10.75

8-15 Days            100.25-10.50

16-30 Days             9..80-9.90

31-60 Days             9..75-9.85

61-90 Days             9..75-9.85

91-120 Days            9..85-9.95

121-180 Days          9..90-10.00

181-270 Days         100.00-10.10

271-365 Days         100.10-10.13

=================================

Kerb Market FX Rate

---------------------------------

Currency       Bid          Offer

---------------------------------

USD            63.05        63.15

EUR            98.80        99.00

GBP           125.60       125.80

=================================