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Business News/ Money / Money Market Update
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Money Market Update

Money Market Update

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G-sec Market: The 10-year G-sec 6.90% GOI 2019 opened at a yield of 6.96%, slightly higher than previous closing levels of 6.95%.

The yields rose at opening tracking hardening of US Treasury yields. The 10-year US Treasury hardened from 3.70% to 3.75%.

The Markets would be looking forward to outcome of First Quarter Review of Monetary Policy for FY 2009-10.

The 10-year G-sec 6.90% GOI 2019 is likely to be volatile. It trade anywhere in the range of 6.80% - 7.00% depending on the policy outcomes.

Money Market: The Call rate and CBLO rate opened at 3.26% and 3.00% respectively. The money market rates are expected to remain soft tracking comfortable liquidity position.

Swap Market: The 5Y OIS swap rate traded in the range of 6.35% - 6.40%, compared to previous closing levels of 6.38%. The OIS swap rates are expected to trade rangebound tracking movement in G-sec yields, depending on policy outcome.

Forex Market: The INR opened at 8.21 against the USD compared to previous closing level of 48.17. Rupee is expected to trade in the range of 47.90 – 48.50.

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Published: 28 Jul 2009, 10:21 AM IST
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