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Indian FX/debt factors to watch - Aug 12
August 12, 2015 / 3:15 AM / 2 years ago

Indian FX/debt factors to watch - Aug 12

GLOBAL MARKETS ROUNDUP
    * Asian stocks and emerging currencies tumbled on Wednesday
and commodities fell after China allowed the yuan to fall
sharply for a second straight day, forcing investors to seek
refuge in safe-haven government debt. 
    * The Australian dollar tumbled to its lowest level since
2009 on Wednesday after the Chinese central bank set the
midpoint for its yuan at the weakest level since October 2012,
firing another salvo in what some fear could be the start of a
currency war. 
    * Brent crude prices fell again on Wednesday as oil
production hit multi-year highs and as China's currency
devaluation continued, triggering concerns over the country's
economic health. 
    * The benchmark 10-year U.S. Treasury note yield slid to a
three-month low on Wednesday as Asian financial markets
continued to reel after China's surprise devaluation of the
yuan, feeding demand for safe-haven assets. 
         
    LOCAL MARKETS PREVIOUS CLOSE 
    * BSE index 27,866.09 (down 0.84 pct)
    * NSE index 8,462.35 (down 0.74 pct)
    * Rupee 64.19/20 per dollar (63.87/88)
    * 10-year bond yield 7.80 pct (7.79 pct)
    * 5-year OIS rate 7.08 pct (7.08 pct)
    * 1-year OIS rate 7.39 pct (7.40 pct)
    * Call money 7.15/7.20 pct (7.50/7.55 pct)

    KEY DEALS
    * India's Rural Electrification Corp has set an annual
coupon of 8.37 percent on its issue of bonds maturing in five
years, four merchant bankers told NewsRise on Tuesday.
 
    *  Power Grid Corp of India Ltd has set an annual coupon of
8.41 percent on its issue of separately transferable redeemable
principal part bonds maturing in four to 15 years, four merchant
bankers told NewsRise on Tuesday. The state-run company has
invited commitment bids by 11:00 a.m. on Wednesday and is
looking to raise at least 10 billion rupees through this bond
issue. 
        
    FACTORS/EVENTS TO WATCH
    * India to publish monthly trade data for July anytime
between Aug. 11 and 17. There is no fixed date and time for the
release of this data.
    * India to release July consumer price inflation data and
June industrial output data at 1200 GMT.
    
    Non-deliverable forwards (Pvs day closing levels)
    For live prices see 
    Open        High         Low         Close
    64.60      64.78        64.55      64.72-77
    
    FII INVESTMENTS-EQUITIES (Net Dollars)
    Aug 11*                          -$114.80 mln
    Month-to-date**                   $272.77 mln
    Year-to-date**                      $7.46 bln
    * Provisional NSE data
    ** Source: Data as per latest custodial filing as on Aug. 11
on NSDL's website.  
        
    FII INVESTMENTS-DEBT (Net Dollars) INFII INFII01*
    Aug 11                            -$91.45 mln
    Month-to-date                     $227.31 mln
    Year-to-date                        $8.13 bln
    Source: Data as per latest custodial filing as on Aug. 11 on
NSDL's website, debt utilisation status data, NewsRise
calculation. 

    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)     
                                                           
                                            Aug 11   
    Foreign Banks                          1.53 bln
    Public Sector Banks                   -2.00 bln
    Private Sector Banks                   7.28 bln
    Mutual Funds                          -6.05 bln
    Others                                -2.85 bln
    Primary Dealers                        2.09 bln
    Constituents                           4.79 bln

    INFLOWS
=============================================================
Instrument               Payment    Date           Amount
                                               (mln rupees)
=============================================================   
SDL 09.48%, 2024         Interest   Aug 12            237.00
(KERALA)
SDL 09.50%, 2024         Interest   Aug 12            213.75
(2 States)
SDL 09.51%, 2024         Interest   Aug 12            475.50
(HARYANA)
SDL 09.53%, 2024         Interest   Aug 12            583.14
(GUJARAT)
SDL 09.55%, 2024         Interest   Aug 12            570.61
(KARNATAKA)
SDL 09.63%, 2024         Interest   Aug 12           1624.00
(2 States)
SDL 09.64%, 2024         Interest   Aug 12            482.00
(BIHAR)
SDL 09.67%, 2024         Interest   Aug 12            338.45
(JHARKHAND)
SDL 09.69%, 2024         Interest   Aug 12            290.70
(PUNJAB)
SDL 09.72%, 2024         Interest   Aug 12            486.00
(WEST BENGAL)
==============================================================
For the full monthly inflows table, see:    
==============================================================

    ISSUANCES
    PAPER               AMOUNT            DATE
Treasury bills        140 bln rupees      Aug 12
Dated bonds           140 bln rupees      Aug 14
        
    LIQUIDITY OPERATIONS ON AUG 11
    * India's cenbank says repo bids rise to 20.26 bln
rupees 
    * Indian banks' refinancing with RBI unchanged at 19.51 bln
rupees 
    * India cbank says banks' cash balances rise to 3.62 trln
rupees 

 (Compiled by Swati Bhat)

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