India FIMMDA-REUTERS-MIFOR for six mths 3.51 pct

Nov 4 (Reuters) -The FIMMDA-REUTERS Mumbai Inter-bank
Forward Offered rate MIFOR= for six months based on the
implied yield using dollar-rupee premium is 3.51 percent on
Wednesday compared with 3.59 percent the previous day.

The FIMMDA-REUTERS Mumbai rupee overnight offered rate
(MITOR) based on the cash-spot dollar rupee premium was 2.76
percent on Wednesday. One-month, two-month, three-month,
six-month and one-year swaps and benchmark rates are given in
the table below.
--------------------------------------------------------------

Period SWAP DIFFERENCE PREMIUM MIFOR

dlr/rupee In percent Implied rupees
(Spot to) (paise) (annualised) Interest rates(%)
--------------------------------------------------------------
1M(07/12/09) 08.75/10.00 02.19/02.50 02.43/02.74
2M(06/01/10) 18.50/20.00 02.35/02.54 02.61/02.80
3M(08/02/10) 29.75/31.25 02.45/02.57 02.73/02.86
6M(06/05/10) 67.00/68.50 02.87/02.93 03.45/03.51
1Y(08/11/10) 134.25/136.00 02.83/02.87 04.07/04.11

Spot rate : 1$ = 47.13 rupees (Source - RBI reference rate
from Reuters page RBIB INRFIX=RBIA

Note: Figures in brackets indicate negative values.

The US Dollar LIBOR rates are published by the British
Bankers' Association and sourced from the Reuters page
FRASETT1.

The implied benchmark rates will be available on Reuters
pages by typing MIFOR= or INSWAP01 followed by the ENTER
key or double-clicking MIFOR=, INSWAP01.

Refer to Reuters page INSWAP04 for the calculation
methodology.

FIMMDA refers to Fixed Income Money Market and Derivatives
Association of India.