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4 years ago
MARKET EYE-Indian near-term OIS at 2-week low; but cash may tighten on outflows
August 5, 2013 / 10:10 AM / 4 years ago

MARKET EYE-Indian near-term OIS at 2-week low; but cash may tighten on outflows

* India's one-year rate eases to a 2-week low to
the levels last seen before RBI's second round of cash
tightening on July 23, on easy liquidity in the banking system.
* The 1-year OIS is lower 29 basis points at 9.08 percent, while
the benchmark five-year OIS rate is down 17 bps
at 8.27 percent.
* Dealer, however, says call rate may move back towards the
Marginal Standing Facility, or MSF, rate of 10.25 with excise
and service tax outflows expected this week.
* Dealers estimate between 350 billion-450 billion rupees of tax
related outflows.

 (subhadip.sircar@thomsonreuters.com/subhadip.sircar.thomsonreut
ers.com@reuters.net)

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