Money Market Update
Money Market Update
G-sec Market: The benchmark 10-year security 6.05% GOI 2019 (FEB) opened at Rs95.40 implying a yield of 6.70%, higher than previous close of 6.66%.
The markets are expected to remain bearish tracking RBI announcement of G-sec auction worth ₹ 15,000 crore. RBI had announced that auction amount would be increased from ₹ 12,000 crore to ₹ 15,000 crore for auctions held during time period May 15-29, 2009.
The auction would be held on June 5, 2009. The G-sec yields are likely to trade rangebound between 6.60% – 6.70%.
Money Market: The Call rate and CBLO rate opened at 3.25% and 2.70% respectively. The money market rates are expected to trade rangebound tracking comfortable liquidity position.
Swap Market: The 5Y OIS swap rate opened at 6.37% compared to previous closing levels of 6.36%. The OIS swap rates are expected to trade rangebound tracking the movement in G-sec yields.
Forex Market: The INR opened at Rs46.94 against the USD compared to previous closing level of Rs46.95. Rupee is expected to trade in the range of 46.75 – 47.25.
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