Money Market Update

Money Market Update
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First Published: Thu, Apr 09 2009. 10 42 AM IST

Updated: Thu, Apr 09 2009. 10 42 AM IST
G-sec Market: The benchmark 10-year security 6.05% GOI 2019 opened at Rs 94.30 implying a yield of 6.85% slightly lower than previous close of 6.86%. The yields have eased tracking surplus liquidity position in the system.
The markets would be awaiting responses to twin G-sec auction worth Rs12,000 crore. They would also be looking at two important economic data releases– WPI Inflation for week ended 28 March 2009 and IIP for February 2009.
The G-sec yields are likely to be rangebound between 6.75% - 6.90%.
Money market: The Call rate and CBLO rate opened at 3.55% and 1.00% respectively. The money market rates are expected to remain easy tracking comfortable liquidity in the system.
Swap Market: The 5Y OIS swap rate opened at 5.50% marginally lower than previous close of 5.51%. The OIS swap rates are expected to ease tracking the movement in G-sec yields.
Forex Market: The INR opened at Rs50.03 against the USD compared to previous closing level of Rs50.20. Rupee is expected to trade in the range of 49.90 - 50.20.
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First Published: Thu, Apr 09 2009. 10 42 AM IST