DEBT WEEKLY

20
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August, 2013

For the Week 20

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Aug 23

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Aug, 2013

Headlines
Industrial production (IIP) contracted by 2.2% in June13 (against 2.0% a year ago), while cumulative industrial production during April June 2013 stood at 1.1% of contraction against 0.2% decline in April June 2012. Indias exports grew sharply at 11.6% (Y/Y) in July13 to $25.83 billion compared to noticeable decline of 6.2% in import to $38.1 billion which narrowed trade deficit to $12.27 billion. The WPI inflation for July13 recorded a sharp rise to 5.79% (provisional) from 4.86% a month ago. Indias holding of US Treasury Securities at the end of June13 stood at $61.2 against $59.9 billion a month ago. The government increased the customs duty on gold, platinum and silver to 10%. Finance minister P. Chidambaram expressed the government concern over Indian rupee volatility and said that the government would do more to reduce the current volatility by curbing non-essential imports and boosting foreign capital inflows through issue of quasi-sovereign bonds. G-Sec Yield (%)

10 Year G-Sec (7.16%) Benchmark

Key Market Rates

(%) Call Repo CBLO

Corporate AAA Spread (bps) 16/08/2013

10.24 10.19 10.23

12/08/2013
49.00 67.00 49.00

Change (bps)
-120.00 81.00 16.00

Money Market Volumes

Rs (Cr) Call Repo CBLO LAF R Repo LAF Repo

12/08/2013 61813 130592 331344 1046 150073

16/08/2013 76364 92017 332048 207 154684

Change (%)
23.54% -29.54% 0.21% -80.21% 3.07%

PSU AAA Spread (bps)

Treasury Bill Benchmark (%)

Tenor 7 30 60 90 180 364

12/08/2013 10.6889 10.9222 10.8625 10.6821 10.3725 9.9894

16/08/2013 11.2500 11.3786 11.3420 11.2720 10.9902 10.1060

Change (bps)
56.11 45.64 47.95 58.99 61.77 11.66

MoM WPI Inflation (%)

Apr.13 May13 4.70% June13 4.86% July13 5.79%

Commercial Paper Benchmark (%)

Tenor 30 60 90 180 364

12/08/2013 11.8750 11.7500 11.6250 11.2500 10.9250

16/08/2013 12.2375 12.1313 12.0250 11.5625 11.1875

Change (bps) 36.25 38.13 40.00 31.25 26.25

4.86%

Key Policy Rates (%)

CRR 4.00% SLR 23.0% Bank Rate 10.25% Repo Rate 7.25%

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