Money market report by Khadim Ali Shah Bukhari & Co on Thursday (May 12, 2005).DAILY MONEY MARKET COMMENTS: Today morning the money market rates were indicated between the bids and offer range of 8.50% - 8.90%. As the day progressed, the gap between bids and offers narrowed down and first Repo deal was witnessed at the level of 8.75%. Most of the overnight Repo deals were done at the top levels of 8.90% throughout the day.
However in clean & call placements the overnight interest rates were 9.50% - 10.00% respectively. At the end of the day the interbank market closed at 8.90% and a discounting of Rs 9.18 billion was reported. Keeping in view of today's money market we believe that tomorrow being the last day of the week the market will remain at the top level of 8.90%.
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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 8.50 8.90 8.75 8.90 8.76
1-Week 7.75 8.00 8.25 8.50 8.13
2-Week 7.00 7.25 7.50 7.75 7.38
1-Month 6.75 7.00 7.25 7.50 7.13
2-Months 7.50 7.75 8.00 8.25 7.88
3-Months 7.50 7.80 8.00 8.50 7.95
4-Months 7.65 7.95 8.15 8.65 8.10
5-Months 7.70 8.00 8.25 8.75 8.18
6-Months 8.00 8.25 8.50 8.75 8.38
9-Months 8.25 8.50 8.75 9.00 8.63
1-Year 8.50 8.75 9.00 9.25 8.88
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Call Rates (Yield p a)
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Overnight 9.00 9.25 9.50 9.75 9.38
1-Week 8.00 8.25 8.50 8.75 8.38
2-Week 7.50 7.75 8.00 8.25 7.88
1-Month 7.25 7.50 8.00 8.50 7.81
2-Months 7.75 8.25 8.50 8.75 8.31
3-Months 8.00 8.50 8.75 9.00 8.56
4-Months 7.75 8.00 8.25 8.50 8.13
5-Months 8.00 8.40 8.75 9.00 8.54
6-Months 8.25 8.65 9.00 9.25 8.79
9-Months 8.50 8.75 9.25 9.50 9.00
1-Year 8.75 9.25 9.50 9.75 9.31
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PIB Secondary Market Data
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Maturity Yield Range
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0.1-0.5 Years 7.45 7.95
0.6-1.0 Years 7.90 8.65
1.1-1.5 Years 8.25 8.40
1.6-2.0 Years 8.75 8.90
2.1-2.5 Years 8.80 9.00
2.6-3.0 Years 8.95 9.20
3.1-3.5 Years 9.05 9.25
3.6-4.0 Years 9.25 9.40
4.1-4.5 Years 9.40 9.60
4.6-5.0 Years 9.65 9.95
5.6-6.0 Years 9.90 0.20
6.1-6.5 Years 10.00 10.25
6.6-7.0 Years 10.25 10.35
7.1-7.5 Years 10.25 10.35
7.6-8.0 Years 10.30 10.50
8.1-8.5 Years 10.50 10.60
8.6-9.0 Years 10.60 10.75
15 Years 11.35 11.50
20 Years 12.35 12.50
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FIB Secondary Market Data
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Maturity Yield Range
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0.1-0.5 Years 7.55 8.05
0.6-1.0 Years 8.00 8.75
1.1-1.5 Years 8.35 8.50
1.6-2.0 Years 8.85 9.00
2.1-2.5 Years 8.90 9.10
2.6-3.0 Years 9.05 9.30
3.1-3.5 Years 9.15 9.35
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Clean Deposit Market
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Tenor Range (% p a)
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01 Month 9.00 10.00
03 Months 9.00 9.50
06 Months 9.50 10.50
12 Months 10.00 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 7.75-8.25
8-15 Days 7.00-7.50
16-30 Days 7.00-7.25
31-60 Days 7.15-7.30
61-90 Days 7.30-7.50
91-120 Days 7.45-7.65
121-180 Days 7.65-7.80
181-270 Days 7.90-8.10
271-365 Days 8.25-8.50
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Kerb Market FX Rate
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Currency Bid Offer
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USD 60.10 60.20
EUR 77.20 77.50
GBP 112.80 113.20
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