Money Market Update

Money Market Update
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First Published: Tue, Mar 03 2009. 11 31 AM IST

Updated: Tue, Mar 03 2009. 11 31 AM IST
G-sec Market: The benchmark 10-year yield security 6.05% GOI 2019 opened at Rs 100.20 implying a yield of 6.02%.
The Election Commission announced the calendar for upcoming Lok Sabha elections implying there will not be any additional borrowing program announced by Government. The yields are expected to be rangebound during the day.
Money market: The Call rate opened at 4.10%. The rates in money markets are expected to be easy tracking surplus liquidity in the system.
Swap Market: The 5Y OIS swap rate opened at 5.01%. The OIS swap rates are expected to be rangebound, tracking movement in G-sec yields.
Forex Market: The INR opened at Rs 51.70 against the USD. It is expected to trade in the range 51.30-52.10 against the USD. There could be downwards pressure on the Rupee if equity markets decline further leading increase in FII outflows.
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First Published: Tue, Mar 03 2009. 11 31 AM IST