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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 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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Published: 02 Jun 2009, 09:41 AM IST
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