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Indian FX/debt factors to watch - Jan 22
January 22, 2013 / 2:41 AM / 5 years ago

Indian FX/debt factors to watch - Jan 22

    * The yen and Asian shares marked time on Tuesday as
investors awaited the outcome of the Bank of Japan's policy
meeting, with expectations running high for bold monetary easing
measures aimed at reflating the world's third-largest economy. 
 marked time marked time 
    * The yen's recent violent selloff came to an abrupt halt on
Tuesday as investors waited to see if the Bank of Japan would
deliver its most aggressive effort yet to beat years of economic
stagnation, or disappoint as so often in the past. 
    * Brent crude oil slipped below $112 a barrel on Monday,
ending a three-day rally, as pessimism over global economic
growth returned traders' focus to healthy supply levels,
offsetting fears of unrest in North Africa. 
    *  U.S. Treasury debt prices rose on Friday as the previous
session's selloff lured bargain-minded investors and dealers
bought bonds to exit hedges on the corporate debt issues they
underwrote this week.  
    * BSE index 20,101.82 (+0.31 pct)
    * NSE index 6,082.30 (+0.3 pct)
    * Rupee 53.765/775 per dollar (53.71/72)
    * 10-year bond yield 7.86 pct (7.86 pct) 
    * 5-year OIS rate 7.13 pct (7.15 pct) 
    * 1-year OIS rate 7.54 pct (7.56 pct) 
    * Call money 8.00/8.10 pct Fri (8.00/8.10 pct)
    * India's Finance Minister to meet foreign investors in Hong
Kong. Media briefing at 0700GMT.      
    *  India has raised the import tax on gold by 2 percentage
points to 6 percent to curb purchases and rein-in a ballooning
fiscal deficit, but industry officials expect only a moderate
drop in demand. 
    * India's foreign investment panel has approved Swedish
retailer IKEA's 100 billion rupee ($1.86 billion) plan
to set up shop in the country, India's trade minister said in a
statement late on Monday. 
    * Tata Communications will hold a series of fixed-income
investor meetings from Jan. 22 ahead of a Singapore
dollar-denominated Reg S issuance. (IFR)
    * The $115 million standby letter of credit-backed financing
for Videocon Group has closed with four banks joining sole
bookrunner Deutsche Bank on the deal. (IFR)

    USD/INR NDFs (NY closing prices)   
    * For up-to-date prices, double click  
      Close      Open      High     Low      Volume  
    53.87-88    53.90     54.19    53.85      High
    FII INVESTMENTS-EQUITIES (Net dollars)                      
    Jan. 21*                 $156.50 mln#
    Month-to-date**            $2.67 bln 
    Year-to-date**             $2.67 bln         
    * Provisional NSE data         
    ** Source: Data as per custodial filing as on Jan. 21 on
SEBI website.
    #(As per Reuters conversion, $1 = 53.865 rupees)     
    FII INVESTMENTS-DEBT (Net Dollars)  *  
    Jan. 18               $228.68 mln
    Month-to-date         $127.08 mln
    Year-to-date          $127.10 mln                    
    * Source: Data as per custodial filing as on Jan. 21 on SEBI
    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
                                Jan. 21
    Foreign Banks                       -9.26 bln
    Public Sector Banks                  7.22 bln
    Private Sector Banks                 8.43 bln
    Mutual Funds                         6.93 bln 
    Others                               0.64 bln
    Primary Dealers                    -13.97 bln
    Source: Clearing Corp of India Ltd
    MONEY MARKET INFLOWS                         (mln rupees)
Instrument               Payment    Date              Amount 
SDL 07.80%, 2019         Interest   Jan 22            312.00 
(2 States) 
SDL 07.85%, 2019         Interest   Jan 22           2,158.75 
(3 States) 
SDL 07.00%, 2019         Interest   Jan 23           1,097.25 
(3 States) 
SDL 07.09%, 2019         Interest   Jan 23            142.97 
(2 States) 
SDL 07.10%, 2019         Interest   Jan 23            649.74 
(2 States) 
SDL 07.13%, 2019         Interest   Jan 23            582.02 
For the entire table click on: 
PAPER             AMOUNT             DATE
State loans       99.02 bln rupees   Jan 22
T-Bills             100 bln rupees   Jan 23

    * The Reserve Bank of India (RBI) said on Monday it accepted
all 32 bids for 887.35 billion rupees at its one-day repo
auction, through which it injects cash into the banking system.
It also accepted the sole bid for 50 million rupees at its
reverse repo auction, through which it absorbs cash from the
    * Indian banks' refinancing with RBI falls to 212.43 billion
    * Indian banks' cash balances with RBI fall to 2.91 trillion

 (Compiled by Subhadip Sircar)

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