Indian FX/Debt Factors to Look for on Jan 21

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By Naagesh N. | January 21, 2013 5:41 PM EST

GLOBAL MARKETS ROUNDUP

* Asian shares edged lower on Monday, taking a breather after hitting multi-month highs, while the yen touched a new low

ahead of the outcome of the Bank of Japan policy meeting this week amid expectations of bold monetary easing measures.

* The yen sank to a fresh 2-1/2 year low against the greenback on Monday with investors giving the currency a wide

berth in the lead up to a Bank of Japan meeting that could see the central bank commit to aggressive reflationary policy.

* Oil prices rose on Friday, recovering from an earlier dip after news that the U.S. House of Representatives will consider

a bill to raise the debt ceiling enough to allow the country to pay its bills for another three months.

* U.S. Treasury debt prices rose on Friday as the previous session's sell-off lured bargain-minded investors and dealers

bought bonds to exit hedges on the corporate debt issues they underwrote this week.

LOCAL MARKETS PREVIOUS CLOSE

* BSE index 20,039.04 (+0.38 pct)

* NSE index 6,064.40 (+0.42 pct)

* Rupee 53.71/72 per dollar (54.385/395)

* 10-year bond yield 7.86 pct (7.84 pct)

* 5-year OIS rate 7.15 pct (7.14 pct)

* 1-year OIS rate 7.56 pct (7.56 pct)

* Call money 8.00/8.10 pct Fri (8.05/8.15 pct)

OVERNIGHT NEWS

* India's regulations for share auctions have been eased to help firms meet rules that at least 25 percent of their shares

be publicly traded by end-June.

* India's demand for diesel will stay buoyant despite its plan to hike the price of the fuel in small monthly steps,

analysts and company officials said on Friday, and the country will keep up the pace of its exports of diesel.

* Eleven Indian states will raise at least 99.02 billion rupees ($1.8 billion) through state development loans on Jan.

22, the Reserve Bank of India said on Friday.

MAJOR DEALS/ACQUISITIONS

* Tata Communications is eyeing a Singapore dollar deal, joining other Indian borrowers who have successfully tapped the

market for diversification and cheaper costs in the last few months. (IFR)

* ICICI Securities and IDBI Capital have been mandated for Rashtriya Chemicals and Fertilisers' 3.71-billion-rupee ($69 million) offer for sale likely in March. The sale was approved

by the government last month. (IFR)

* Banks have been invited to join the up to $250-million four-year term loan for Power Finance Corp at the top level.

(IFR)

USD/INR NDFs (NY closing prices)

* For up-to-date prices, double click

Close Open High Low Volume

53.915-95 54.01 54.17 53.93 High

FII INVESTMENTS-EQUITIES (Net dollars)

Jan. 18* $216.67 mln#

Month-to-date** $2.45 bln

Year-to-date** $2.45 bln

* Provisional NSE data

** Source: Data as per custodial filing as on Jan. 18 on

SEBI website.

#(As per Reuters conversion, $1 = 53.815 rupees)

FII INVESTMENTS-DEBT (Net Dollars) *

Debt

Jan. 17 -$95.22 mln

Month-to-date -$101.60 mln

Year-to-date -$101.60 mln

* Source: Data as per custodial filing as on Jan. 18 on SEBI

website.

GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)

Jan. 18

Foreign Banks 1.86 bln

Public Sector Banks 16.25 bln

Private Sector Banks -33.29 bln

Mutual Funds 11.10 bln

Others 14.38 bln

Primary Dealers -10.30 bln

Source: Clearing Corp of India Ltd

MONEY MARKET INFLOWS (mln rupees)

Instrument Payment Date Amount

SDL 05.90%, 2017 Interest Jan 21 2133.76

(27 States)

SDL 07.32%, 2016 Interest Jan 21 115.85

(ANDHRA PRADESH)

SDL 07.33%, 2016 Interest Jan 21 60.81

(HARYANA)

SDL 08.12%, 2020 Interest Jan 21 203.00

(RAJASTHAN)

SDL 08.15%, 2020 Interest Jan 21 786.93

(2 States)

SDL 08.18%, 2020 Interest Jan 21 409.00

(ANDHRA PRADESH)

SDL 08.25%, 2020 Interest Jan 21 907.50

(4 States)

SDL 08.27%, 2020 Interest Jan 21 20.68

(MEGHALAYA)

SDL 08.29%, 2020 Interest Jan 21 32.77

(ARUNACHAL PRADESH)

SDL 08.56%, 2021 Interest Jan 21 214.00

(PUNJAB)

SDL 08.59%, 2021 Interest Jan 21 429.50

(GUJARAT)

SDL 08.60%, 2021 Interest Jan 21 1182.50

(2 States)

SDL 08.61%, 2021 Interest Jan 21 430.50

(WEST BENGAL)

SDL 07.80%, 2019 Interest Jan 22 312.00

(2 States)

SDL 07.85%, 2019 Interest Jan 22 2158.75

(3 States)

SDL 07.00%, 2019 Interest Jan 23 1097.25

(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

(ANDHRA PRADESH)

For the entire table click on:

ISSUANCES

PAPER AMOUNT DATE

State loans 99.02 bln rupees Jan 22

T-Bills 100 bln rupees Jan 23

LIQUIDITY

* The Reserve Bank of India (RBI) said on Friday it accepted all 31 bids for 800.95 billion rupees at its three-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

system.

* Indian banks' refinancing with RBI stays at 218.06 billion rupees.

* Indian banks' cash balances with RBI fall to 2.93 trillion rupees.

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