Money Market Report
Money market report by Khadim Ali Shah Bukhari & Co on Monday (March 28, 2005).
DAILY MONEY MARKET COMMENTS: Today morning the money market rates were indicated between the bids and offer range of 0.75% - 1.75%. However, couple of Repo deals were seen at the level of 2.00% - 2.50%. As the day progressed, the gap between bids and offers narrowed down and the first Repo deal was witnessed at the level of 1.25%. Most of the overnight Repo deals were done in between the range of 1.00% - 1.75%. There are very few banks who borrowed in overnight Repo at 5.00%.
However in clean & call placements the overnight interest rates were 3.00% - 8.00%. At the end of the day the interbank overnight rates came down and was seen at the levels of 1.00% - 2.00% and closed at the same levels.
SBP has announced the auction for six months T-Bill and set the target of Rs 10 billion. Keeping in view today's money market we believe that tomorrow money market will remain on the same levels because there is no inflow or outflow 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 0.75 2.00 1.00 2.50 1.56
1-Week 2.50 2.75 3.00 3.50 2.94
2-Week 3.00 3.50 3.75 4.00 3.50
1-Month 4.25 4.75 5.00 5.50 4.88
2-Months 4.30 4.75 5.00 5.50 4.89
3-Months 4.75 5.25 5.40 5.60 5.25
4-Months 5.00 5.40 5.50 5.75 5.41
5-Months 5.15 5.60 5.60 6.00 5.59
6-Months 5.25 5.75 6.25 6.75 6.00
9-Months 5.50 5.90 6.50 6.75 6.16
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 1.25 2.50 1.50 3.00 2.06
1-Week 3.00 3.25 3.50 4.00 3.44
2-Week 3.75 4.25 4.50 4.75 4.31
1-Month 5.25 5.75 6.00 6.50 5.88
2-Month 5.30 5.75 6.00 6.50 5.89
3-Month 6.00 6.50 6.65 6.85 6.50
4-Month 6.25 6.65 6.75 7.00 6.66
5-Month 6.65 7.10 7.10 7.50 7.09
6-Month 6.75 7.25 7.75 8.25 7.50
9-Month 7.00 7.40 8.00 8.25 7.66
1-Year 8.00 8.25 8.75 9.00 8.50
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PIB Secondary Market Data
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Maturity Yield Range
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0.1-0.5 Years 5.50 6.00
0.6-1.0 Years 5.90 6.40
1.1-1.5 Years 6.20 6.70
1.6-2.0 Years 6.40 6.80
2.1-2.5 Years 6.60 7.00
2.6-3.0 Years 6.80 7.20
3.1-3.5 Years 7.00 7.40
3.6-4.0 Years 7.30 7.45
4.1-4.5 Years 7.35 7.50
4.6-5.0 Years 7.40 7.60
5.6-6.0 Years 7.90 8.20
6.1-6.5 Years 8.00 8.30
6.6-7.0 Years 8.10 8.40
7.1-7.5 Years 8.10 8.40
7.6-8.0 Years 8.20 8.50
8.1-8.5 Years 8.30 8.60
8.6-9.0 Years 8.35 8.60
9.1-9.5 Years 8.35 8.50
15 Years 9.20 9.50
20 Years 10.20 10.50
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FIB Secondary Market Data
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Maturity Yield Range
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0.1-0.5 Years 5.75 6.25
0.6-1.0 Years 6.00 6.50
1.1-1.5 Years 6.30 6.80
1.6-2.0 Years 6.50 6.90
2.1-2.5 Years 6.75 7.10
2.6-3.0 Years 6.90 7.40
3.1-3.5 Years 7.10 7.50
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Clean Deposit Market
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Tenor Range (% p a)
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01 Month 7.00 7.50
03 Months 6.50 7.00
06 Months 7.25 7.75
12 Months 7.75 8.25
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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 4.10-4.25
8-15 Days 4.30-4.45
16-30 Days 4.65-4.75
31-60 Days 4.70-4.75
61-90 Days 4.85-4.95
91-120 Days 5.05-5.15
121-180 Days 5.25-5.40
181-270 Days 5.45-5.55
271-365 Days 5.70-5.85
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Kerb Market FX Rate
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Currency Bid Offer
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USD 59.65 59.75
EUR 77.20 77.60
GBP 112.25 111.60
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