Indian Debt Market Summary

  • The interbank call money rate ended at 6.30% on 31st October, steady compared to 30th October.
  • Gilt prices ended lower on 31st October weighed by the rupee’s weakness against the US dollar.
  • Media reports indicating a growing rift between the central bank and the Centre pulled bond prices down further.
  • The yield of the 10 year benchmark 7.17% 2028 paper ended at 7.85% on 31st October as against 7.83% on 30th October.

Debt Market Watch Updates

Debt Watch31 OctWeek AgoMonth AgoYear Ago
Call Rate6.30%6.35%6.50%5.80%
10 Yr Gilt7.85%7.87%8.02%6.86%
1-mth CP rate7.85%7.80%8.15%6.65%
3-mth CP rate8.65%8.44%8.30%6.85%
6-mth CP rate9.15%9.15%8.75%7.10%
1 yr CP rate9.30%9.30%9.10%7.20%
1-mth CD rate7.00%7.05%7.00%6.07%
3-mth CD rate7.45%7.40%7.18%6.19%
6-mth CD rate8.32%8.32%7.80%6.50%
1 yr CD rate8.50%8.50%8.65%6.58%
Key announcements in the monthRelease Date
BoE Interest Rate DecisionNovember 1
China Caixin Manufacturing PMI,OctoberNovember 1
US Non-Farm Payrolls,OctoberNovember 2

Auctions/ Money market operations

DateDescriptionAmount (Rs Cr)
November 2G-sec auction11,000 (Notified)
October 29Total repo1,27,884 (outstanding)
October 29Total reverse repo15,950 (outstanding)
October 29Marginal Standing Facility0
October 29GOI Surplus Cash Balance with RBI26,666
Yield (%)G-SecAAAAA+AAAA-A+
6 Month7.178.648.819.069.209.46
1 Year7.488.708.939.229.379.61
3 Year7.658.799.029.389.669.65
5 Year7.838.859.089.449.7310.12
10 Year7.858.739.099.489.9410.28

G-sec and corporate bonds data as of Oct 31

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: 31st October 2018

Next Update: 15th November 2018

Update Frequency: Once Every Fortnight