Crescent Capital Management (Pvt) Ltd: daily foreign exchange report

The Pak rupee made fine recovery versus the greenback in the Interbank Forex Market as it picked up 3.0 to 4.0 paisa more during the day.
The "spot" market opened with the US dollar changing hands in the range of Rs 57.39 and Rs 57.41 as respective buying and selling rates.
From the morning session the sellers overwhelmed the buyers amid thin buying interest with the result that the US dollars retreated sharply by 3.0 paisa against the local currency at Rs 57.36 and Rs 57.38.
By the end of the trading session the rupee recovered further by 1.0 pasia at Rs 57.35 and Rs 57.37 as respective buying and selling rates.
In swap transactions, prices in all the tenures remained mostly stable. 1-week swap was dealt in the range of 0.75 paisa and 1.75 paisa.

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DAILY FOREX REPORT                                                                                  Wednesday (April 07, 2004)

                                                    SBP US $/PKR Parity: 46.00/.23

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US $/PKR        Ready         1 Wk           1M             2M            3M             4M            5M                 R/6M

             Bid   Offer   Bid   Offer   Bid    Offer   Bid   Offer   Bid    Offer   Bid    Offer   Bid   Offer   Bid    Offer

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Outright   57.35   57.37  57.35  57.37  57.33   57.35  57.30  57.32  57.27   57.29  57.26   27.28  57.25   57.27   57.23 57.25

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SWAP

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           O/N           R/1 WK        R/1 M           R/2 M         R/3 M            R/4 M           R/5 M              R/6 M

        Bid   Offer   Bid   Offer   Bid   Offer    Bid   Offer    Bid    Offer    Bid     Offer   Bid    Offer    Bid    Offer

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Paisa   0.25  0.75   0.75   1.75  -3.00  -1.00    -6.00  -4.00    -9.00  -7.00  -10.00   -8.00  -11.00    -9.00 -13.00  -11.00

% Bid   2.59  5.77   1.68   2.59   0.36   0.79     0.36   0.58     0.36   0.51    0.47    0.58    0.53     0.62   0.54    0.61

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