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Indian FX/debt factors to watch - April 9
April 9, 2013 / 3:03 AM / 4 years ago

Indian FX/debt factors to watch - April 9

GLOBAL MARKETS ROUNDUP
    * The yen fell to new multi-year lows on Tuesday, pressured
by the Bank of Japan's aggressive reflationary campaign, while
Asian equities looked for support from a solid start to the U.S.
quarterly earnings season. 
    * The yen pushed deeper into multi-year lows versus the
dollar and euro on Tuesday as the market saw every reason to
sell the currency with the Japanese central bank on a warpath to
battle deflation. 
    * Oil prices edged higher on Monday, lifted by gains in
gasoline futures and strong selling of the spread between Brent
crude and U.S. crude. 
    *  A key measure of the difference between long-term U.S.
borrowing costs and private borrowing costs neared parity for
the first time in four years on Monday as a massive Bank of
Japan stimulus program left investors searching for
higher-yielding assets. 
           
    LOCAL MARKETS PREVIOUS CLOSE 
    * BSE index 18,437.78 (-0.07 pct)
    * NSE index 5,542.95 (-0.19 pct)
    * Rupee 54.56/57 per dollar (54.8050/8150)
    * 10-year bond yield 7.91 pct (7.93 pct) 
    * 5-year OIS rate 7.20 pct (7.21 pct) 
    * 1-year OIS rate 7.42 pct (7.41 pct) 
    * Call money 7.65/7.70 pct (8.00/8.10 pct)
        
    OVERNIGHT NEWS
    * Growth in developing Asia is seen gaining momentum this
year, powered by rising domestic consumption and intra-regional
trade, but authorities need to ward off risks of inflation and
asset bubbles arising from strong capital inflows, the Asian
Development Bank (ADB) said. 
    * Indian companies directly invested $1.9 billion overseas
in March, up from $1.7 billion a month earlier, data from the
central bank showed on Monday. 
    
    MAJOR DEALS/ACQUISITIONS
    * National Housing Bank priced its 5 billion rupees (US$91.5
million) bond sale late on April 5 at a coupon of 8.62 percent.
The three-year bond has a put/call option at the end of 13
months when the coupon is payable. The bonds yield 8.59 percent
and will be settled on April 10. (IFR)
    
    USD/INR NDFs (NY closing prices)       
    * For up-to-date prices, double click      
      Close      Open      High     Low      Volume      
    54.97-02    54.92      55.00   54.87      High
      
    FII INVESTMENTS-EQUITIES (Net dollars)                      
                        
    April 8*                  -$30.03 mln#
    Month-to-date**            $95.39 mln
    Year-to-date**             $10.41 bln
    * Provisional NSE data         
    ** Source: Data as per custodial filing as on April 8 on
SEBI website. 
    #(As per Reuters conversion, $1 = 54.60 rupees)     
             
    FII INVESTMENTS-DEBT (Net Dollars)  *   
                                 Debt             
    April 5                 -$137.43 mln
    Month-to-date           -$251.98 mln
    Year-to-date               $2.11 bln
    * Source: Data as per custodial filing as on April 8 on SEBI
website.
        
    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
                               April 8
    Foreign Banks                        5.82 bln
    Public Sector Banks                -25.44 bln
    Private Sector Banks                24.87 bln
    Mutual Funds                         5.70 bln 
    Others                               1.57 bln
    Primary Dealers                    -12.52 bln
    Source: Clearing Corp of India Ltd
   
    MONEY MARKET INFLOWS                         (mln rupees) 
Instrument               Payment    Date              Amount  
SDL 07.77%, 2019         Interest   Apr 09            349.65 
(2 States) 
SDL 08.31%, 2017         Interest   Apr 09            300.12 
(MAHARASHTRA) 
SDL 08.32%, 2017         Interest   Apr 09            811.20 
(2 States) 
SDL 08.40%, 2017         Interest   Apr 09            840.00 
(WEST BENGAL) 
6.30% 2023               Interest   Apr 09           4095.00
SDL 09.17%, 2022         Interest   Apr 12            618.98 
(2 States) 
SDL 09.20%, 2022         Interest   Apr 12            690.00 
(ANDHRA PRADESH) 
7.59% 2016               Interest   Apr 12          25806.00 
7.83% 2018               Interest   Apr 12          25056.00 
7.80% 2021               Interest   Apr 12          26520.00 
91 days T-Bill           Redemption Apr 12          95722.50 
182 days T-Bill          Redemption Apr 12          50000.00 
SDL 05.85%, 2015         Interest   Apr 13           1594.87 
(27 States) 
SDL 08.39%, 2020         Interest   Apr 13            209.75 
(WEST BENGAL) 
SDL 08.56%, 2020         Interest   Apr 13            342.40 
(PUNJAB) 
SDL 08.57%, 2020         Interest   Apr 13           1071.25 
(2 States) 
SDL 08.58%, 2020         Interest   Apr 13           1072.50 
(2 States)
For full table: 
    
    ISSUANCES
Instrument               Date        Amount (in bln rupees)
State loans            April 9              25.93
Tbills                 April 10              100
Dated govt bonds       April 12              150
    
    LIQUIDITY
    * The Reserve Bank of India accepted all 36 bids worth 1.09
trillion rupees at its one-day repo auction on Monday, through
which it injects liquidity into the banking system. It also
accepted both bids for 450 million rupees at the reverse repo
auction, through which it absorbs excess liquidity from the
banking system. 
     * Indian banks' refinancing with RBI rises to 302.51
billion rupees. 
    * Indian banks' cash balances with RBI fall to 2.63 trillion
rupees. 

 (Compiled by Swati Bhat)

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