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Indian FX/debt factors to watch-June 5
June 5, 2012 / 3:12 AM / 5 years ago

Indian FX/debt factors to watch-June 5

	
 GLOBAL MARKETS ROUNDUP	
 * USD/INR was seen opening lower, tracking gains in
the euro and positive Asian stocks. Pair last closed at
55.66/67.	
 The USD/INR 1-month NDF was trading at 55.92
after closing in New York at 55.80/85. 	
 * Asian shares and commodities staged a mild recovery on
Tuesday, with stocks holding a touch above 2012 lows, as
investors looked to European policymakers and the wider G7 to
take decisive action to address the worsening euro zone crisis. 	
 	
 * The euro edged up further from last week's two-year
low on Tuesday as sellers were tempted to pare back their huge
bets against the currency ahead of a conference call by the
Group of Seven financial policy makers. 	
 * Brent crude prices rebounded for a second straight
session on Tuesday, rising above $99 per barrel on support from
a weaker dollar and hopes that the world's leading economies
will take new action to tackle the euro zone's debt crisis.
 	
 	
 OVERNIGHT NEWS 	
 * India will sell 150 billion rupees ($2.7 billion) of debt
on June 8, including a new 10-year bond, the Reserve Bank of
India said in a statement on Monday. 	
 * Indian companies' investment overseas fell for the second
straight month in May, with total outbound foreign direct
investment at $2.35 billion, down 12 percent from April, data
from the Reserve Bank of India showed on Monday. 	
     	
 KEY EVENTS TO WATCH	
 * India's annual trade policy. (0630GMT)	
 * India Services PMI data. (0500GMT)	
                        	
 EXTERNAL COMMERCIAL BORROWINGS / MAJOR DEALS	
 * State-run Power Finance Corp is attempting to breathe new
life into India's dormant perpetual bond market with an
ambitious 25 billion rupees ($447 million) bond sale. (IFR)	
 * State-owned Hindustan Copper is planning to seek
cabinet approval for the sale of part of the government's stake,
an official at the Department of Divestment told local media.
(IFR)	
 * The IPO of steel producer Rashtriya Ispat Nigam, also
known as Vizag Steel, will be a crucial test of sentiment for
the country's divestment process. The company has already filed
its red herring prospectus for a $450 million offering to be
managed by Deutsche Bank and UBS. (IFR)	
 * Hero MotoCorp, India's largest two-wheeled
vehicle manufacturer, has approved a proposal to merge the
investment arm of its parent into the automaker, the company
said, 18 months after it announced its split from Honda Motor
.  	
   	
 USD/INR NDFs (NY closing prices) 	
 * For up-to-date prices, double click 	
 Close    Open   High Low   Volume	
 55.80-85 55.88 55.88 55.83  High	
 	
 FII INVESTMENTS-EQUITIES (Net rupees) 	
 June 4*            -6.37 bln  	
 Month-to-date**     -7.73 bln 	
 Year-to-date**    417.21 bln	
 * Provisional NSE data	
 ** Source: SEBI (reporting date as of June 4, as submitted
by custodians)	
 	
 FII INVESTMENTS-DEBT (Net Rupees)  	
             Debt        	
 June 1         -9.78 bln         	
 Month-to-date  15.43 bln        	
 Year-to-date  207.23 bln        	
 Source: SEBI (reporting date as of June 4, as submitted by
custodians)	
     	
 GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)	
                            June 4	
 Foreign Banks                 12.43 bln	
 Public Sector Banks              -21.20 bln	
 Private Sector Banks              620.0 mln	
 Mutual Funds                       6.46 bln 	
 Others                             4.28 bln	
 Primary Dealers                   -2.70 bln	
 Source: Clearing Corp of India Ltd	
 	
 WEEKLY GOVERNMENT BOND AUCTIONS (In rupees)	
MATURITIES          DATE        AMOUNT	
10-Yr State Loans   June 5     40.05 bln	
91-Day T-Bills      June 6        90 bln	
182-Day T-Bills     June 6        50 bln	
Government Bonds    June 8       150 bln                    	
  LIQUIDITY, as of June 4	
 * The Reserve Bank of India said on Monday it accepted all
40 bids for 933.55 billion rupees at its one-day repo auctions,
through which it injects liquidity into the banking system. It
also accepted a sole bid for 100 million rupees at the reverse
repo auction. 	
 * Indian bank refinancings with RBI rise to 100.03 bln
rupees 	
 * Indian banks' cash balances with RBI rise to 3.13 trln
rupees. 	
	
 (Compiled by Subhadip Sircar; Editing by Rafael Nam)	
 

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