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MARKET EYE-India OIS rates rise on oil, OMO worries
July 2, 2012 / 8:41 AM / 5 years ago

MARKET EYE-India OIS rates rise on oil, OMO worries

* India OIS rates rise with paying interest seen more at longer-end on risk sentiment; 1-year OIS up 4 basis points at 7.82 percent, while 5-year rate gains 5 basis points at 7.25 percent. * Brent crude fell towards $95 a barrel on Monday, after weak factory data from China; but still remains elevated after sharp rally seen after the EU outcome. * Traders say some paying also seen on uncertainty about OMO this week after RBI desisted last week from buying bonds via auction. Doubts also fueled after sharp rupee rally on Friday which will reduce immediate need for intervention. (Reporting by Subhadip Sircar;Editing by Sunil Nair)

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