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Indian FX/debt factors to watch - May 20

GLOBAL MARKETS ROUNDUP * The yen pulled up from a 4-1/2 year low against the dollar on Monday after Japan's economics minister said a further steady drop in the yen could have negative effects on households, pushing the dollar to a low of 102.00. * The yen bounced off a 4-1/2 year low against the dollar early in Asia on Monday in the wake of reports suggesting the Japanese government might be happy with the level of the currency following its extended decline. * Brent crude futures held below $105 per barrel on Monday supported by positive economic data and strong equity markets, while a moderate outlook for demand and ample supplies dragged on prices. * U.S. Treasuries were on the defensive on Monday, with the benchmark yield near a two-month peak after data late last week showed U.S. consumer sentiment rising to its highest level in nearly six years. LOCAL MARKETS PREVIOUS CLOSE * BSE index 20,286.12 (+0.19 pct) * NSE index 6,187.30 (+0.28 pct) * Rupee 54.88/89 per dollar (54.7750/7850) * 10-year bond yield 7.40 pct (7.39 pct) * 5-year OIS rate 6.76 pct (6.72 pct) * 1-year OIS rate 7.09 pct (7.08 pct) * Call money 7.20/7.30 pct (7.25/7.35 pct) KEY FACTORS/EVENTS TO WATCH * India's Finance Minister Palaniappan Chidambaram scheduled to give an address at the Annual Day of Competition Commission of India (CCI) in New Delhi at 6 p.m. MAJOR DEALS/ACQUISITIONS * India's Tata Motors Ltd said its subsidiary TML Holdings Pte Ltd had issued and allotted S$350 million ($280 million) of senior notes due 2018. USD/INR NDFs (NY closing prices) * For up-to-date prices, double click Close Open High Low Volume 55.41-44 55.14 55.43 55.10 High FII INVESTMENTS-EQUITIES (Net dollars) May 17* $158.09 mln# Month-to-date** $2.21 bln Year-to-date** $13.52 bln * Provisional NSE data ** Source: Data as per custodial filing as on May 17 on SEBI website. #(As per Reuters conversion, $1 = 54.90 rupees) FII INVESTMENTS-DEBT (Net Dollars) * Debt May 16 -$0.42 mln Month-to-date $1.63 bln Year-to-date $4.98 bln * Source: Data as per custodial filing as on May 17 on SEBI website. GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees) May 17 Foreign Banks -11.15 bln Public Sector Banks 64.87 bln Private Sector Banks -38.15 bln Mutual Funds 8.46 bln Others 5.37 bln Primary Dealers -29.40 bln Source: Clearing Corp of India Ltd MONEY MARKET INFLOWS (mln rupees) Instrument Payment Date Amount SDL 07.77%, 2015 Interest May 20 2934.78 (26 States) 8.37% FRB 2014 Interest May 20 2092.50 10.79% 2015 Interest May 20 1447.72 SDL 07.77%, 2018 Interest May 21 135.98 (KERALA) SDL 07.80%, 2018 Interest May 21 780.00 (2 States) SDL 07.85%, 2018 Interest May 21 392.50 (UTTAR PRADESH) SDL 07.86%, 2018 Interest May 21 589.50 (WEST BENGAL) SDL 08.75%, 2016 Interest May 21 413.98 (GUJARAT) SDL 08.77%, 2016 Interest May 21 421.00 (KARNATAKA) SDL 08.90%, 2022 Interest May 21 445.00 (MAHARASHTRA) SDL 08.91%, 2022 Interest May 21 334.13 (ANDHRA PRADESH) SDL 08.92%, 2022 Interest May 21 446.00 (RAJASTHAN) SDL 08.93%, 2022 Interest May 21 446.50 (KERALA) SDL 08.94%, 2022 Interest May 21 308.43 (3 States) SDL 08.97%, 2022 Interest May 21 560.63 (BIHAR) SDL 08.98%, 2022 Interest May 21 89.80 (NAGALAND) SDL 09.01%, 2022 Interest May 21 901.00 (WEST BENGAL) 11.50% 2015 Interest May 21 2047.29 For full table: ISSUANCE SECURITY AMOUNT (IN BLN RUPEES) DATE State Loands Atleast 64.80 May 21 Tbills 100 May 22 LIQUIDITY * The Reserve Bank of India accepted all 33 bids for 563.75 billion rupees at its three-day evening repo auction, through which it injects liquidity into the banking system. It also accepted all three bids for 800 million rupees at the reverse repo auction, through which it absorbs excess liquidity from the banking system. * Indian banks' refinancing with RBI rises to 192 billion rupees. * Indian banks' cash balances with RBI rises to 2.98 trillion rupees. (Compiled by Swati Bhat)