Indian FX/debt factors to watch - Dec 17

GLOBAL MARKETS ROUNDUP
* The Liberal Democratic Party of Japan's electoral triumph
propelled the yen to a 20-month low against the dollar that saw
the Nikkei stock average touch a 8-1/2-month high on
expectations of much better export earnings.
* The yen slumped to its lowest in over a year-and-a-half
against the U.S. dollar on Monday as part of a broad skid after
Japan's conservative LDP party, pledged to hyper-easy monetary
policy, won a landslide victory at an election.
* Oil prices rose on Friday on expectations for improved
demand in China after data showed the manufacturing sector of
the world's No. 2 oil consumer expanded in December at its
fastest pace in more than a year.
* U.S. Treasuries prices gained on Friday on tame inflation
data likely to help the Fed keep interest rates near zero, but
supply pressures and worries about Washington's budget fight
kept prices lower for the week overall.

LOCAL MARKETS PREVIOUS CLOSE
* BSE index 19,317.25 points (0.46 pct)
* NSE index 5,879.60 points (0.48 pct)
* Rupee 54.4850/4950 per dollar (54.46/47)
* 10-year bond yield 8.14 pct (8.16 pct)
* 5-year OIS rate 7.11 pct (7.10 pct)
* 1-year OIS rate 7.62 pct (7.66 pct)
* Call money 8.00/8.10 pct (8.00/8.10 pct)

OVERNIGHT NEWS
* India will speed up the sale of stakes in state companies
to revive the stock market and will push ahead with reforms
aimed at spurring an investment recovery in the flagging
economy, Prime Minister Manmohan Singh said on Saturday.

KEY FACTORS/EVENTS TO WATCH
* Raghuram Rajan, chief economic adviser at India's ministry
of finance will speak at a conference at 10.30 IST (5.00 GMT) on
the economy of South Indian state of Tamil Nadu.

MAJOR DEALS/ACQUISITIONS
* ICICI Bank Ltd (Dubai branch), rated Baa2/BBB-/BBB-,
became the first Indian name to issue in Swiss francs for more
than nine months, mandating Deutsche Bank as sole lead for an
opportunistic debut, a minimum CHF100m seven-year deal.
[ID:nIFRSwZNP ]
*

USD/INR NDFs (NY closing prices)
* For up-to-date prices, double click
Close Open High Low Volume
54.78-80 54.65 54.86 54.75 Moderate

FII INVESTMENTS-EQUITIES (Net dollars)

Dec. 14* $230.56 mln#
Month-to-date** $2.44 bln
Year-to-date** $22.22 bln
* Provisional NSE data
** Source: Data as per custodial filing as on Dec. 14 on
SEBI website.
#(As per Reuters conversion, $1 = 54.50 rupees)

FII INVESTMENTS-DEBT (Net Dollars) *
Debt
Dec. 13 $148.22 mln
Month-to-date $64.80 mln
Year-to-date $6.39 bln
* Source: Data as per custodial filing as on Dec. 14 on SEBI
website.

GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
Dec. 14
Foreign Banks 14.53 bln
Public Sector Banks -65.26 bln
Private Sector Banks 20.36 bln
Mutual Funds 15.39 bln
Others -3.39 bln
Primary Dealers 18.38 bln
Source: Clearing Corp of India Ltd

MONEY MARKET INFLOWS
INSTRUMENT PAYMENT DATE AMOUNT (IN MLN RUPEES)

SDL 07.33%, 2015 Interest Dec 17 132.36
(KERALA)
SDL 08.39%, 2017 Interest Dec 19 314.63
(2 States)
SDL 08.40%, 2017 Interest Dec 19 126.00
(2 States)
SDL 08.41%, 2017 Interest Dec 19 378.45
(PUNJAB)
SDL 08.42%, 2017 Interest Dec 19 86.66
(4 States)
SDL 08.43%, 2017 Interest Dec 19 210.75
(MADHYA PRADESH)
SDL 08.58%, 2017 Interest Dec 19 131.73
(JAMMU & KASHMIR)
SDL 08.45%, 2017 Interest Dec 20 380.25
(2 States)
SDL 08.46%, 2017 Interest Dec 20 211.50
(RAJASTHAN)
SDL 08.48%, 2017 Interest Dec 20 440.79
(3 States)
SDL 08.49%, 2017 Interest Dec 20 265.31
(MADHYA PRADESH)
SDL 08.52%, 2017 Interest Dec 20 170.83
(ASSAM)
SDL 08.57%, 2017 Interest Dec 20 42.85
(JAMMU & KASHMIR)
SDL 08.89%, 2022 Interest Dec 20 711.20
(2 States)
SDL 08.90%, 2022 Interest Dec 20 89.00
(JHARKHAND)
SDL 08.91%, 2022 Interest Dec 20 356.40
(HARYANA)
SDL 08.92%, 2022 Interest Dec 20 669.00
(UTTAR PRADESH)
SDL 08.95%, 2022 Interest Dec 20 223.75
(WEST BENGAL)
For full table:

LIQUIDITY
* The Reserve Bank of India said on Friday it accepted all
33 bids for 654.40 billion rupees at its three-day afternoon
repo auction, through which it injects liquidity into the
banking system. It said it also accepted all the four bids for 5
billion at its reverse repo auction through which it absorbs
liquidity from the system.
* Indian banks' refinancing with RBI rises to 240.36 billion
rupees.
* Indian banks' cash balances with RBI fall to 2.70 trillion
rupees.

(Compiled by Swati Bhat)