India FIMMDA-REUTERS-MITOR based on dlr/rupee swap

Jan 7 (Reuters) - The India FIMMDA-REUTERS Mumbai Inter-bank
Cash-Tom Offered Rate MIFOR= on Wednesday is 4.35 percent.

The MITOR is the reference implied rupee overnight offered
rate based on the cash-Tom dollar-rupee premium.

The one-month, two-month, three-month, six-month and
one-year swaps will be released at 12:30 IST. (0700 GMT) and
benchmark rates (MIFOR) will be released at 17:30 IST. (1200
GMT).
-------------------------------------------------------------
PERIOD CASH-Tom SWAP DIFFERENCE

dlr/rupee In percent Implied rupee

(paise) (annualised) interestrate(%)
----------------------------------------------------------------
--07/01/2009 01.04/01.13 03.90/04.24 4.01/04.35 OVER
09/01/2009 Spot rate : 1$ =48.68 rupees (Source - RBI reference
rate from Reuters page RBIB INRFIX=RBIA

The US Dollar rate used is the Fed Funds Rate from Reuters
page USONFFE=

Note:Figures in brackets indicate negative values

Cash-Tom levels have been contributed by banks and brokers.

FIMMDA is the Fixed Income Money Market and Derivatives
Association of India.

Refer to Reuters page INSWAP02 for the calculation
methodology. For Implied benchmark rates refer to MIFOR= or
INSWAP01.