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Money Market Update

Money Market Update
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First Published: Thu, Aug 13 2009. 10 53 AM IST
Updated: Thu, Aug 13 2009. 10 53 AM IST
G-sec Market: The 10-year G-sec 6.90% GOI 2019 opened at a yield of 7.03%, compared to than previous closing levels of 7.01%. The 10-year US Treasury yield rose slightly from 3.71% to 3.72%.
In FOMC, Fed kept the rates unchanged and decided to continue with its various programs to promote economic recovery.
The markets would look forward to reading on WPI Inflation and cut-offs in underwriting commissions. The 10-year G-sec 6.90% GOI 2019 is likely to trade in the range of 6.98% - 7.05%.
Money Market: The Call Rate and CBLO rate opened at 3.27% and 2.89%. The money market rates are expected to be easy tracking comfortable liquidity conditions.
Swap Market: The 5Y OIS swap rate traded in the range of 6.40% - 6.45%, compared to previous closing levels of 6.44%. The OIS swap rates are expected to be rangebound, tracking G-sec yields.
Forex Market: The INR opened at Rs48.19 against the USD compared to previous closing level of Rs 48.37. Rupee is expected to trade in the range of 48.00 – 48.50.
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First Published: Thu, Aug 13 2009. 10 53 AM IST