Indian Debt Market Summary

  • The interbank call money rate ended at 6.50% on 28th September, level compared to 27th September.
  • Gilt prices ended slightly higher on 28th September ahead of the release of the Centre’s borrowing calendar for the October-March period.
  • The rupee’s gains against the US dollar ahead of the Centre’s announcement of the October-March borrowing plan aided sentiment.
  • The yield of the 10 year benchmark 7.17% 2028 paper ended at 8.02% on 28th September as against 8.03% on 27th September.

Debt Market Watch Updates

Debt Watch28 SeptWeek AgoMonth AgoYear Ago
Call Rate6.50%6.30%6.40%5.80%
10 Yr Gilt8.02%8.08%7.90%6.64%
1-mth CP rate8.15%7.55%7.27%6.51%
3-mth CP rate8.30%7.80%7.10%6.60%
6-mth CP rate8.75%8.62%8.30%6.90%
1 yr CP rate9.10%8.95%8.55%7.15%
1-mth CD rate7.00%7.30%6.62%6.15%
3-mth CD rate7.18%7.36%7.21%6.14%
6-mth CD rate7.80%7.85%7.50%6.38%
1 yr CD rate8.65%8.40%8.00%6.62%
Key announcements in the monthRelease Date
US ADP Employment,SeptemberOctober 3
US Durable Goods Orders,AugustOctober 4
UK Non-Farm Payrolls, SeptemberOctober 5

Auctions/ Money market operations

DateDescriptionAmount (Rs Cr)
September 28G-sec auction8,185 (Allotted)
September 27Total repo1,92,243 (outstanding)
September 27Total reverse repo1,46,541 (outstanding)
September 27Marginal Standing Facility81
September 27GOI Surplus Cash Balance with RBI30,300
Yield (%)G-SecAAAAA+AAAA-A+
6 Month7.408.808.979.229.369.62
1 Year7.839.049.279.569.719.95
3 Year8.
5 Year8.198.909.139.459.7810.17
10 Year8.078.909.269.6510.1110.55

G-sec and corporate bonds data as of Sept 26

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: 30th September 2018

Next Update: 15th October 2018

Update Frequency: Once Every Fortnight