|Chennai||Rs. 27770.00 (-0.14%)|
|Mumbai||Rs. 29200.00 (2.31%)|
|Delhi||Rs. 27900.00 (-0.36%)|
|Kolkata||Rs. 28270.00 (1%)|
|Kerala||Rs. 27050.00 (-0.37%)|
|Bangalore||Rs. 27550.00 (1.66%)|
|Hyderabad||Rs. 27770.00 (-0.14%)|
MUMBAI, Jan 29 (Reuters) - Indian swap rates fell while the rupee strengthened after the central bank cut interest rates by 25 basis points as expected, while also delivering a surprise cut in the cash reserve ratio.
The 1-year overnight index swap (OIS) rate, which is also sensitive to liquidity conditions, fell 5 basis points (bps) to 7.54 percent from levels before the decision. The 5-year OIS rate fell 3 bps to 7.14 percent, according to traders.
The Indian rupee strengthened to 53.79 from around 53.84 before the decision, while the NSE's banking sub-index was up 0.3 percent.
The 10-year bond yield was down 1 bp as the cut in the cash reserve ratio reduced the prospects of bond purchases via open market operations. (Reporting by Mumbai markets team; Editing by Anand Basu)