Indian Debt Market Summary

  • The inter-bank call money rate ended at 6.25% on 14th August, level compared to a 13th August
  • Gilt prices ended steady on 14th August after taking cues from the rupee’s movement intraday.
  • Investors also remained cautious ahead of the release of the central bank Monetary Policy Committee’s latest meeting minutes.
  • The yield of the 10 year benchmark 7.17% 2028 paper ended at 7.82% on 14th August, flat compared to 13th August.

Debt Market Watch Updates

Debt Watch14 AugWeek AgoMonth AgoYear Ago
Call Rate6.25%6.45%6.10%5.85%
10 Yr Gilt7.82%7.79%7.79%6.52%
1-mth CP rate7.10%7.40%7.10%6.41%
3-mth CP rate7.74%7.65%7.80%6.47%
6-mth CP rate8.15%8.20%8.33%6.76%
1 yr CP rate8.55%8.50%8.57%7.05%
1-mth CD rate6.50%6.60%6.30%6.10%
3-mth CD rate7.10%7.13%7.00%6.16%
6-mth CD rate7.42%7.45%7.42%6.36%
1 yr CD rate7.95%7.98%7.95%6.45%
Key announcements in the monthRelease Date
US Housing starts,JulyAugust 16
US Leading Indicators,JulyAugust 17
Eurozone Customers Prices,JulyAugust 17

Auctions/ Money market operations

DateDescriptionAmount (Rs Cr)
August 16G-sec auction12,000 (Allotted)
August 13Total repo49,964 (outstanding)
August 13Total reverse repo59,261 (outstanding)
August 13Marginal Standing Facility1,460
August 13GOI Surplus Cash Balance with RBI0
Yield (%)G-SecAAAAA+AAAA-A+
6 Month6.957.687.858.108.248.50
1 Year7.238.158.388.678.829.06
3 Year7.618.418.739.039.289.57
5 Year7.808.528.759.079.409.79
10 Year7.758.508.869.259.7110.05

G-sec and corporate bonds data as of Aug 10

6 month G-sec: 182 day T-Bill rate; 1 year G-Sec: 6.35% CGL 2020; 3 year G-Sec: 7.80% CGL 2021; 5 year G-Sec: 7.37% CGL 2023; 10 year G-Sec: 7.17% GS 2028

Last Updated: 15th August 2018

Next Update: 31st August 2018

Update Frequency: Once Every Fortnight