India Rupee, Bonds, Swaps (22-Oct)

India Rupee, Bonds, Swaps (22-Oct)

22 Oct 2020 10:32 AM

RUPEE: The Indian rupee fell to three-week low and was at 73.69/73.70 to the dollar against 73.58/73.59 in the previous session amid a pullback in regional equities and currencies due to an impasse over the much-awaited U.S. fiscal stimulus.

STOCKS: The benchmark BSE Sensex and the broader NSE index fell 0.12% and 0.20%, respectively, tracking the fall in Asian and U.S. indices amid uncertainty over a further U.S. fiscal. Financial stocks such as HDFC Bank and ICICI Bank were the top losers in India.

GOVERNMENT BONDS: The benchmark 5.77% bond maturing in 2030 was at 99.02 rupees, yielding 5.90%, against 98.95 rupees and 5.91% yield at the previous close ahead of the first-ever state debt purchase by the central bank.

INTEREST RATE SWAPS: The one-year swap rate was two basis points lower at 3.64% against 3.66% at the previous close, while the benchmark five-year swap rate was one basis point lower at 4.40%.