Free Trial

Government Says Virus Situation Showing Signs Of Stabilisation

INDIA

Yields are set to fall at the open after rising slightly yesterday. Oil lost ground yesterday which should ease some concerns over inflation overshoots for India as net importers.

  • Forwards indicate a higher open for INR, USD/INR 1-month NDF's have fallen from around 73.45 at yesterday's cash close to 73.42.
  • India reported a record number of coronavirus deaths in the past 24 hours, though case numbers have declined from their peak. The government now sees COVID-19 positivity rate falling to 2% by the end of May. The R number is now below one, but the government warned that 98% of the population are still vulnerable.
  • Markets look ahead to an INR 360bn bill sale later today, as well as the latest GSAP operation tomorrow.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.