Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Monday (May 05, 2008).
DAILY MONEY MARKET COMMENTS: Money market initiated at the level of 8.00% - 8.50%. In Clean, the trading levels varied between 9.50% - 10.25% and in Call most of the deals were done with in the range of 8.80% - 10.50%. Money market closed at the level of 10.40%. SBP reported a discounting of Rs 4.8 billion. SBP given the pre-auction target of Treasury Bill Rs 65 billion.
For Tuesday it is expected that money market would trade at the level of 10.25% - 10.40%.

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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    8.00      10.40        8.25       10.45         9.29

1-Week       9.00       9.25        9.25        9.40         9.23

2-Weeks      9.20       9.30        9.30        9.45         9.31

1-Month      9.25       9.35        9.30        9.50         9.35

2-Months     9.50       9.60        9.65        9.75         9.63

3-Months     9.55       9.65        9.60        9.75         9.64

4-Months     9.65       9.85        9.80        9.95         9.81

5-Months     9.75       9.95        9.85       10.10         9.91

6-Months     9.75      10.10        9.85       10.20         9.98

9-Months     9.80      10.10        9.90       10.20        10.00

1-Year      10.00      10.15       10.10       10.25        10.13

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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    8.50      11.25        8.75       11.50        10.00

1-Week       9.25       9.75        9.50       10.00         9.63

2-Weeks      9.50       9.75        9.75       10.00         9.75

1-Month      9.50      10.00        9.75       10.25         9.88

2-Months     9.90      10.25       10.10       10.40        10.16

3-Months    10.00      10.25       10.25       10.40        10.23

4-Months    10.00      10.40       10.25       10.60        10.31

5-Months    10.25      10.75       10.40       11.00        10.60

6-Months    10.25      11.00       10.50       11.25        10.75

9-Months    10.40      11.00       10.60       11.25        10.81

1-Year      10.50      11.00       10.75       11.50        10.94

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PIB Secondary Market Data

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Maturity          Yield     Range

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0.1-0.5 Year      10.00     10.20

0.6-1.0 Year      10.25     10.30

1.1-1.5 Year      10.25     10.35

1.6-2.0 Year      10.30     10.40

2.1-2.5 Year      10.35     10.45

2.6-3.0 Year      10.60     10.70

3.1-3.5 Year      10.60     10.70

3.6-4.0 Year      10.65     10.75

4.1-4.5 Year      10.70     10.75

4.6-5.0 Year      10.80     10.85

5.1-5.5 Year      10.80     10.85

5.6-6.0 Year      10.85     10.90

6.1-6.5 Year      10.90     10.95

6.6-7.0 Year      10.95     11.00

7.1-7.5 Year      11.10     11.15

7.6-8.0 Year      11.25     11.30

8.1-8.5 Year      11.30     11.40

8.6-9.0 Year      11.40     10.45

9.1-9.5 Year      11.45     11.55

9.5-10.0 Yea      11.50     11.60

15 Years          11.90     12.10

20 Years          12.00     12.10

30 Years          12.30     12.40

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Clean Deposit Market

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Tenor          Range      (% p a)

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1 Month         9.75        10.25

3 Months       10.20        10.50

6 Months       10.25        10.75

12 Months      10.50        11.00

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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               9.75-10.00

8-15 Days               9.25-9.75

16-30 Days              9.60-9.70

31-60 Days              9.60-9.65

61-90 Days              9.55-9.65

91-120 Days             9.65-9.75

121-180 Days            9.75-9.85

181-270 Days           9.90-10.00

271-365 Days          10.10-10.13

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Kerb Market FX Rate

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Currency       Bid          Offer

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USD            66.70        66.80

EUR           103.20       103.40

GBP           131.50       131.70

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