Money Market update

Money Market update

G-sec Market: The 10-year G-sec 6.90% GOI 2019 opened at a yield of 7.21% same as the previous day closing levels. The 10-year US Treasury yield hardened from 3.34% to 3.42%. The 3-month Interest Rate Future is trading at a level of 8.07%. The 10-year G-sec 6.90% GOI 2019 is likely to trade in the range of 7.18% - 7.25%.

Money market: The Call Rate and CBLO rate opened at 3.28% and 2.60%. The money market rates are expected to remain soft tracking comfortable liquidity in the system.

Swap Market: The 5Y OIS swap rate traded in the range of 6.62% - 6.67%, compared to previous closing levels of 6.63%. The OIS swap rates are expected to trade range-bound tracking G-sec yields.

Forex Market: The INR opened at Rs48.64 against the USD compared to previous closing level of Rs48.75. Rupee is expected to trade in the range of 48.40 – 48.90.