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Money Market Update

Money Market Update
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First Published: Tue, Mar 31 2009. 10 17 AM IST

Updated: Tue, Mar 31 2009. 10 17 AM IST
G-sec Market: The benchmark 10-year security 6.05% GOI 2019 opened at Rs93.20 implying a yield of 7.01% lower than previous close of 7.08%.
The G-sec market is expected to trade rangebound in the backdrop of announcement of twin G-Sec Auction worth Rs12,000 crore to be held on 2 April 2009.
The securities being auctioned are 7.56% GOI 2014 for Rs8,000 crore and 7.94% GOI 2021 for Rs4,000 crore. The G-sec yields are likely to be rangebound between 6.90% - 7.05%.
Money market: The Call rate and CBLO rate opened at 5.25% and 4.95% respectively. The Money Market rates are expected to trade rangebound with market participants staying away from markets on account of year closing.
Swap Market: The 5Y OIS swap rate opened at 5.59% lower than previous close of 5.70%. The OIS swap rates are expected to trade rangebound tracking the movement in G-sec yields.
Forex Market: The INR opened at Rs 51.04 against the USD compared to yesterday’s closing level of Rs51.16. Rupee is expected to trade in the range of 50.85 51.25.
Click here for previous day’s analysis
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First Published: Tue, Mar 31 2009. 10 17 AM IST