Holding Firm

Three-month notes dropped one basis point to 12.93 percent, six month bills slipped one basis point to 12.
97 percent and one year treasuries lost four basis points to 13.74 percent.

rnrnDealers say rates have held firm, despite a Rs. 7.8 bn liquidity crunch on seasonal demand.

rnrnDealers expect the shortfall to ease after the New Year festival. The IMF
quote s next US$ 60 mn is also expected later this month to help stabilize the market.
rn