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INDIA: Country Wrap: RBI to use Swaps to Manage Liquidity. 

INDIA
  • RBI likely to use long-term buy-sell currency swaps for effective liquidity management: SBI Research (source: Hindustan Times).
  • India's foreign exchange reserves hit 10 month low at $625 billion (source: BBG).
  • India’s NIFTY 50 is starting the week off positively up +0.25%, following last week’s decline of nearly 1%.
  • INR: Rupee is getting support from the positive day from regional peers and is up +0.14% at 86.49.
  • Bonds: India’s 10YR finished last week at 6.76%, marginally lower in yield.
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  • RBI likely to use long-term buy-sell currency swaps for effective liquidity management: SBI Research (source: Hindustan Times).
  • India's foreign exchange reserves hit 10 month low at $625 billion (source: BBG).
  • India’s NIFTY 50 is starting the week off positively up +0.25%, following last week’s decline of nearly 1%.
  • INR: Rupee is getting support from the positive day from regional peers and is up +0.14% at 86.49.
  • Bonds: India’s 10YR finished last week at 6.76%, marginally lower in yield.