June 04, 2008	Wednesday	Jamadi-ul-Awwal 29, 1429

KARACHI, June 3: Pakistan’s short-term rates rose on Tuesday and dealers said they were waiting for a Treasury Bill (T-bill) auction scheduled for Wednesday to determine rates for the rest of the week.

Overnight call rates ended at 11.90 per cent, up from Monday’s close of 11.25 per cent.

“The market is now waiting for the T-bill auction result,” said a brokerage dealer.A T-bill auction is scheduled for Wednesday with a target of Rs65 billion and dealers said inflows from maturing government securities of Rs60 billion were scheduled for June 5.

The rupee was flat on Tuesday and dealers said it should remain firm on expectations of fresh inflows of foreign currency in the short-term. Dealers said the rupee ended quoted at 67.10/30 to the dollar compared with Monday’s close of 67.10/20.—Reuters