Money Market Report
Money market report by Khadim Ali Shah Bukhari & Co on Tuesday (April 26, 2005).
DAILY MONEY MARKET COMMENTS: Today morning the money market rates were indicated between the bids and offer range of 2.00% - 4.00%. Few repo deals were seen at the level of 3.00%. As the day progressed, the gap between bids and offers narrowed down and first repo deal was witnessed at the level of 3.00%. Most of the overnight repo deals were done in between the range of 3.00% - 3.50%. There are very few banks who borrowed in overnight repo at 4.00%.
However in clean & call placements the overnight interest rates were 4.00% - 5.00%. SBP conducted OMO for 2 days to drain out the excess liquidity from the market and scrapped the OMO against the total participation of Rs 16 billion. After the result of OMO overnight market came down and was seen at the level of 1.00% - 1.50% and closed at the same levels.
Keeping in view today's money market we believe that tomorrow money market will remain at 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 1.00 3.50 1.50 4.00 2.50
1-Week 4.00 4.50 4.75 5.00 4.56
2-Week 5.00 5.50 6.00 6.50 5.75
1-Month 5.25 5.50 6.00 6.25 5.75
2-Months 5.50 5.75 6.25 6.50 6.00
3-Months 5.75 6.10 6.50 6.75 6.28
4-Months 6.00 6.25 6.70 6.80 6.44
5-Months 6.25 6.50 6.75 6.90 6.60
6-Months 6.50 6.70 6.80 7.10 6.78
9-Months 6.75 6.90 7.20 7.40 7.06
1-Year 7.00 7.50 7.75 8.00 7.56
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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 2.00 4.50 2.50 5.00 3.50
1-Week 5.00 5.50 5.75 6.00 5.56
2-Week 5.75 6.25 6.75 7.25 6.50
1-Months 6.00 6.25 6.50 6.75 6.38
2-Months 6.20 6.50 7.00 7.25 6.74
3-Months 6.80 7.00 7.25 7.40 7.11
4-Months 7.00 7.25 7.50 7.70 7.36
5-Months 7.25 7.50 7.75 8.00 7.63
6-Months 7.40 760 7.90 8.20 7.78
9-Months 7.80 8.00 8.25 8.50 8.14
1-Year 8.10 8.30 8.60 8.80 8.45
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PIB Secondary Market Data
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Maturity Yield Range
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0.1-0.5 Years 6.80 7.15
0.6-1.0 Years 7.40 7.65
1.1-1.5 Years 7.70 7.80
1.6-2.0 Years 7.70 8.00
2.1-2.5 Years 7.80 8.20
2.6-3.0 Years 7.95 8.30
3.1-3.5 Years 8.20 8.45
3.6-4.0 Years 8.25 8.50
4.1-4.5 Years 8.40 8.50
4.6-5.0 Years 8.40 8.80
5.6-6.0 Years 8.80 9.20
6.1-6.5 Years 8.95 9.25
6.6-7.0 Years 9.10 9.30
7.1-7.5 Years 9.15 9.35
7.6-8.0 Years 9.20 9.40
8.1-8.5 Years 9.25 9.45
8.6-9.0 Years 9.40 9.60
15 Years 10.50 10.90
20 Years 11.50 11.85
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FIB Secondary Market Data
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Maturity Yield Range
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0.1-0.5 Years 6.90 7.25
0.6-1.0 Years 7.50 7.75
1.1-1.5 Years 7.80 7.90
1.6-2.0 Years 7.80 8.10
2.1-2.5 Years 7.90 8.30
2.6-3.0 Years 8.05 8.40
3.1-3.5 Years 8.30 8.55
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Clean Deposit Market
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Tenor Range (% p a)
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01 Month 7.50 8.25
03 Months 7.75 8.50
06 Months 8.25 8.75
12 Months 9.00 9.50
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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 4.80-5.20
8-15 Days 5.25-5.45
16-30 Days 5.80-6.10
31-60 Days 5.90-6.30
61-90 Days 6.15-6.50
91-120 Days 6.30-6.60
121-180 Days 6.65-7.00
181-270 Days 7.00-7.25
271-365 Days 7.25-7.50
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Kerb Market FX Rate
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Currency Bid Offer
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USD 60.02 60.07
EUR 78.00 78.20
GBP 114.50 114.75
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