Indian FX/debt factors to watch-May 24
MUMBAI, May 24 (Reuters) - GLOBAL MARKETS ROUNDUP * USD/INR likely to remain well bid as global sentiment continues to be cautious; pair last closed at 55.9950/56.0050 after hitting record high of 56.225. Although dealers see no direct impact on USD/INR from the hike in petrol prices, the pair may fall if stock market reacts positively and rallies on the hike. [ * Asian shares were steady but remained vulnerable on Thursday amid signs European leaders were unable to deliver meaningful measures to resolve the region's deepening debt crisis. * The embattled euro hovered just above a near two-year low against the dollar on Thursday and remained vulnerable to further declines as the prospect of a Greek exit from the euro zone kept investors on tenterhooks. * Brent crude oil gained more than $1 per barrel on Thursday, as traders covered short positions after recent falls. OVERNIGHT NEWS * Indian state oil companies will raise the price of petrol on Thursday for the first time in more than six months in a gesture of fiscal discipline that economists said is unlikely to give a significant lift to the embattled rupee. * India's Mangalore Refinery and Petrochemicals Ltd confirmed it will cut crude imports from Iran this fiscal year to 100,000 barrels per day (bpd), as Asian buyers hope for a waiver from tighter looming Western sanctions on Tehran. KEY EVENTS TO WATCH * RBI board meets in the north Indian city of Mussoorie. * India's Telecom Commission, a government panel, starts meeting at 0800 GMT to discuss the sector regulator's proposals to raise prices in an upcoming airwaves auction. EXTERNAL COMMERCIAL BORROWINGS / MAJOR DEALS * Amid a wave of Indian issuers struggling to refinance busted CBs, Man Industries has repaid its $64.35 million of zero coupon convertible bonds due May 23. The company, which manufactures pipes, now has no further CBs outstanding. (IFR) * The $280 million seven-year loan for Forbes Bumi Armada Offshore has received a few in-principle approvals. The loan is the take-out of a $100 million nine-month bridge sealed by the company in March. (IFR) *Six to seven banks are in talks with Yes Bank for a one-year term loan. The size of the facility could be around $180 million-$200 million given lending appetite. Previously, the loan size envisaged was at about $ 125 million-$150 million. (IFR) USD/INR NDFs (NY closing prices) * For up-to-date prices, double click Close Open High Low Volume 56.68-73 56.54 56.96 56.49 High FII INVESTMENTS-EQUITIES (Net rupees) May 23* -3.61 bln Month-to-date** 1.52 bln Year-to-date** 429.93 bln * Provisional NSE data ** Source: SEBI (reporting date as of May 22, as submitted by custodians) FII INVESTMENTS-DEBT (Net Rupees) Debt May 21 -3.83 bln Month-to-date 7.10 bln Year-to-date 163.21 bln Source: SEBI (reporting date as of May 22, as submitted by custodians) GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees) May 23 Foreign Banks 5.52 bln Public Sector Banks -5.27 bln Private Sector Banks -3.47 bln Mutual Funds -610.8 mln Others 7.09 bln Primary Dealers -3.28 bln Source: Clearing Corp of India Ltd WEEKLY GOVERNMENT BOND AUCTIONS (In rupees) MATURITIES DATE AMOUNT 2018,2021, 2027, May 25 150.00 bln 2036 Bonds OMO Bonds 2024, 2020, 2027, May 25 120.00 bln 2030 Bonds BOND INTEREST/REDEMPTIONS INSTRUMENT PAYMENT DATE AMOUNT (Mln rupees) SDL 08.39%, 2020 Interest May 24 891.44 (3 States) SDL 08.40%, 2020 Interest May 24 420.00 (GUJARAT) 9.00% 2013 Interest May 24 788.10 7.94% 2021 Interest May 24 19453.00 SDL 08.03%, 2019 Interest May 25 128.48 (PUNJAB) SDL 08.05%, 2019 Interest May 25 1479.59 (3 States) SDL 08.05%, 2020 Interest May 25 201.25 (RAJASTHAN) SDL 08.06%, 2019 Interest May 25 201.50 (RAJASTHAN) SDL 08.07%, 2020 Interest May 25 766.65 (3 States) SDL 08.09%, 2020 Interest May 25 488.43 (GUJARAT) SDL 08.10%, 2019 Interest May 25 980.06 (2 States) SDL 08.10%, 2020 Interest May 25 405.00 (UTTAR PRADESH) 91 days T-Bill Redemption May 25 90000.00 182 days T-Bill Redemption May 25 40000.00 SDL 08.66%, 2021 Interest May 26 433.00 (UTTAR PRADESH) SDL 08.67%, 2021 Interest May 26 433.50 (ANDHRA PRADESH) SDL 08.68%, 2021 Interest May 26 868.00 For full table, see LIQUIDITY, as of May 23 * The Reserve Bank of India said on Wednesday it accepted all 48 bids for 1.05 trillion rupees at its one-day repo auction, through which it injects liquidity into the banking system. It received a sole bid for 100 million rupees at its reverse repo auction. * Indian bank refinancings with RBI fall to 85.77 bln rupees * Indian banks' cash balances with RBI rise to 3.13 trln rupees. (Compiled by Subhadip Sircar; Editing by Rafael Nam)
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