July 16, 2012 / 2:53 AM / 5 years ago

Indian FX/debt factors to watch-July 16

GLOBAL MARKETS ROUNDUP
    *  Asian shares extended their rally on Monday as fears of
an economic hard landing in China subsided, with last week's
softer growth data within expectations and Premier Wen Jiabao on
Sunday raising the prospects of more policy stimulus if needed. 
 
    *  The euro and high-beta currencies like the
Australian dollar started trading on Monday with a spring in
their step, following a rally late last week in part on the back
of diminishing worries about China's economic health. 
    *  Oil prices rose for a third day on Friday after China
reported GDP data in line with expectations and slightly above
the government's target, soothing concerns about slowing growth
in the world's second largest economy. 
 
    OVERNIGHT NEWS 
    * The Reserve Bank of India may increase the minimum capital
requirement for new banks to 10 billion rupees ($180.5 million)
from the currently proposed 5 billion rupees, said a senior
official with direct knowledge of the
development. 
    * Thirteen Indian states will raise 102.8 billion rupees
($1.9 billion) via 10-year and five-year loans on July 17, the
Reserve Bank of India said in a statement on
Friday. 
    *  Commodity futures turnover in India, the world's second
largest wheat and rice growing nation, grew only 8.95 percent in
the first three months of the fiscal year from April, despite a
double digit jump in volumes of energy and agri commodities.
 
    * India has asked the World Trade Organization to set up a
panel to adjudicate on its dispute with the United States over
U.S. duties on some imports of Indian steel products, the WTO
said on Friday. 
    
    KEY EVENTS TO WATCH
    * India's WPI inflation data for June. (0630GMT)
    * India's trade minister speaks at a textile conference in
New Delhi. (0500GMT)
                           
    EXTERNAL COMMERCIAL BORROWINGS / MAJOR DEALS
    * Foreign currency convertible bondholders of Suzlon Energy,
the world's fifth-largest wind turbine maker, will have good
reason to pop champagne as the company has almost tied up funds
to repay investors. An up to $300 million 18-month loan to repay
the offshore bondholders is slated to be signed early this
week.(IFR) 
    * The $300 million five-year loan for Indian Oil Corp was
launched into general syndication today. Mandated lead arrangers
and bookrunners are Bank of Tokyo-Mitsubishi UFJ, Mizuho
Corporate Bank, State Bank of India and Sumitomo Mitsui Banking
Corp.(IFR)
 
    USD/INR NDFs (NY closing prices) 
    * For up-to-date prices, double click 
    Close    Open   High Low   Volume
    55.00-05 55.58 55.60 55.00  High
    
    FII INVESTMENTS-EQUITIES (Net rupees) 
    July 13*             2.81 bln  
    Month-to-date**     73.56 bln 
    Year-to-date**    493.49 bln
    * Provisional NSE data
    ** Source: SEBI (reporting date as of July 13, as submitted
by custodians)
    
    FII INVESTMENTS-DEBT (Net Rupees)  
                Debt        
    July 12          2.01 bln         
    Month-to-date  17.24 bln        
    Year-to-date  225.85 bln        
    Source: SEBI (reporting date as of July 13, as submitted by
custodians)
        
    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
                               July 13
    Foreign Banks                -25.31 bln
    Public Sector Banks                1.64 bln
    Private Sector Banks              25.08 bln
    Mutual Funds                       2.51 bln 
    Others                             7.57 bln
    Primary Dealers                  -11.49 bln
    Source: Clearing Corp of India Ltd
  
  BOND INTEREST/REDEMPTIONS     
SDL 07.61%, 2016         Interest   Jul 18            266.54 
(8 States) 
6.72% 2012               Redemption Jul 18           5600.15 
11.03% 2012              Redemption Jul 18         142445.25 
SDL 07.96%, 2017         Interest   Jul 19            199.00 
(TAMIL NADU) 
SDL 07.99%, 2017         Interest   Jul 19            285.48 
(3 States) 
SDL 08.52%, 2021         Interest   Jul 19            213.00 
(GUJARAT) 
SDL 08.53%, 2021         Interest   Jul 19            426.50 
(ANDHRA PRADESH) 
SDL 08.54%, 2021         Interest   Jul 19            800.63 
(MAHARASHTRA) 
SDL 08.55%, 2021         Interest   Jul 19            633.35 
(4 States) 
SDL 08.56%, 2021         Interest   Jul 19            214.00 
(UTTAR PRADESH) 
6.83% 2039               Interest   Jul 19           4439.50 

For full table, see 
      
    WEEKLY GOVERNMENT BOND AUCTIONS (In rupees)
MATURITIES          DATE        AMOUNT
State Loans         July 17     102.8 bln                    
182-day T-Bills     July 18        50 bln
91-day T-Bills      July 18        70 bln
      
    LIQUIDITY, as of July 13
    * The Reserve Bank of India said on Friday it accepted all
27 bids for 250.3 billion rupees at its three-day repo auctions,
through which it injects liquidity into the banking system. It
also accepted 8 bids for 13.9 billion rupees at the three-day
reverse repo auction. 
    * Indian bank refinancings with RBI rise to 176.75 bln
rupees 
    * Indian banks' cash balances with RBI rise to 3.03 trln
rupees. 

 (Compiled by Madhura Karnik; Editing by Jijo Jacob)

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