Call money opens at 7.75- 8 per cent

Published: Tuesday, May 22, 2007, 14:10 [IST]

Mumbai, May 22 (UNI) Call money opened at 7.75-8 per cent on Tuesday compared to the previous close on Monday at 7.75-8.00 per cent.

Indian federal bond yields eased on Tuesday as investors were confident that cash supplies would remain adequate as the central bank was not expected to hold an auction of market stabilisation bonds (MSS) this week, dealers opined..

The yield on the 10-year bond was at 8.09 per cent, lower than 8.10 per cent at the previous close.

The central bank has been selling MSS bonds since March to absorb cash released by its intervention in the currency market.

The central bank will auction Rs 8000 crore ( Mumbai, May 22 (UNI) Call money opened at 7.75-8 per cent on Tuesday compared to the previous close on Monday at 7.75-8.00 per cent.

Indian federal bond yields eased on Tuesday as investors were confident that cash supplies would remain adequate as the central bank was not expected to hold an auction of market stabilisation bonds (MSS) this week, dealers opined..

The yield on the 10-year bond was at 8.09 per cent, lower than 8.10 per cent at the previous close.

The central bank has been selling MSS bonds since March to absorb cash released by its intervention in the currency market.

The central bank will auction Rs 8000 crore ($2 billion) of government bonds on Friday. The cut-off prices would offer clues for the near-term direction of the market, the dealers added.

UNI AD MK AW1202 billion) of government bonds on Friday. The cut-off prices would offer clues for the near-term direction of the market, the dealers added.

UNI

 

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