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Indian FX/debt factors to watch - Feb 11
February 11, 2013 / 3:13 AM / 5 years ago

Indian FX/debt factors to watch - Feb 11

    * Oil and equities dawdled on Monday near multi-month highs
scaled after robust Chinese trade data last week, while the euro
slipped to a two-week low as uncertainty surrounded a political
scandal in Spain and a looming election in Italy. 
    * The euro dipped to a two-week low in Asia on Monday,
continuing to pull back from 15-month highs following what
markets perceived as slightly dovish comments from the European
Central Bank and political uncertainty in Italy and Spain. 
    * Brent oil futures hit a nine-month high near $119 a barrel
on Friday after data showed strong growth in Chinese oil
imports, rounding out four straight weeks of gains for the
contract and taking its premium over U.S. crude to more than
    * U.S. Treasuries ended near flat on Friday after dipping
during the session when stocks resumed their climb and traders
got ready for $72 billion in new government debt supply next
    * BSE index 19,484.77 (-0.49 pct)
    * NSE index 5,903.50 (-0.59 pct)
    * Rupee 53.50/51 per dollar (53.22/23)
    * 10-year bond yield 7.84 pct (7.88 pct) 
    * 5-year OIS rate 7.23 pct (7.25 pct) 
    * 1-year OIS rate 7.60 pct (7.62 pct) 
    * Call money 7.80/7.85 pct (7.45/7.55 pct)
    * India is due to release the country's merchandise trade
data for January at 0630 GMT. 
    * India's central bank Governor Duvvuri Subbarao will confer
degrees to students at a convocation ceremony of the central
bank sponsored Indira Gandhi Institute of Development Research
at 0530 GMT.
    * India's economy will grow by 5.5 percent this fiscal year
and 6-7 percent in the next fiscal year, as Asia's third-largest
economy shows signs of reviving, Finance Minister P. Chidambaram
said on Saturday. 
    * India plans to cut its fertiliser subsidy bill by at least
15 percent for the fiscal year 2013-14, four sources told
Reuters, a move that takes advantage of a fall in international
prices to help narrow the country's fiscal deficit.

    * India's Sun Pharmaceutical Industries Ltd, which
has been on a buying spree, ended its agreement to gain full
control over its Israeli unit Taro Pharmaceutical Industries Ltd
    USD/INR NDFs (NY closing prices)    
    * For up-to-date prices, double click   
      Close      Open      High     Low      Volume   
    54.00-03    53.90      54.05    53.85     High
    FII INVESTMENTS-EQUITIES (Net dollars)                      
    Feb. 8*                  $278.66 mln#
    Month-to-date**            $3.23 bln 
    Year-to-date**             $7.29 bln         
    * Provisional NSE data         
    ** Source: Data as per custodial filing as on Feb. 8 on SEBI
    #(As per Reuters conversion, $1 = 53.50 rupees)     
    FII INVESTMENTS-DEBT (Net Dollars)  *  
    Feb. 7                 -$8.04 mln
    Month-to-date         $233.88 mln
    Year-to-date          $784.90 mln                    
    * Source: Data as per custodial filing as on Feb. 8 on SEBI
    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
                                Feb. 8
    Foreign Banks                        9.57 bln
    Public Sector Banks                -34.98 bln
    Private Sector Banks                20.62 bln
    Mutual Funds                        17.39 bln 
    Others                               4.18 bln
    Primary Dealers                    -16.78 bln
    Source: Clearing Corp of India Ltd
    MONEY MARKET INFLOWS                         (mln rupees) 
Instrument               Payment    Date              Amount  
SDL 08.51%, 2021         Interest   Feb 11            212.75 
SDL 08.52%, 2021         Interest   Feb 11            213.00 
SDL 08.53%, 2021         Interest   Feb 11            426.50 
SDL 08.55%, 2021         Interest   Feb 11            427.50 
SDL 08.56%, 2021         Interest   Feb 11           1498.00 
(2 States) 
SDL 08.58%, 2021         Interest   Feb 11            429.00 
8.51% FRB 2015           Interest   Feb 11           2553.00 
7.50% 2034               Interest   Feb 11          22500.00 
10.47% 2015              Interest   Feb 12           3366.11
For full table: 

Instrument          Amount              Date
Tbills            100  bln rupees      Feb. 13  
    * The RBI said on Friday it accepted all 65 bids for a
combined total of 1.08 trillion rupees at its twin three-day
repo auctions, through which it injects cash into the banking
system. It also accepted all 5 bids for 10.95 billion rupees at
its reverse repo auction, through which it absorbs cash from the
    * Indian banks' refinancing with RBI falls to 191.07 billion
    * Indian banks' cash balances with RBI fall to 2.70 trillion

 (Compiled by Swati Bhat)

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