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TREASURY UPDATE – FORTNIGHT ENDED 25th July 2025
LIQUIDITY WATCH:
Liquidity Indicators Open High Low Close
TREPS (%) 5.17 5.90 4.60 5.30
CALL (%) 5.40 5.85 4.75 5.10
25th July ‘25 18th July ‘25
Standing Deposit Facility at 5.25% (Rs in Cr) 1,74,961.00 1,16,590.00
Variable Rate Repo (Rs in Cr) 1,25,008.00 2,00,027.00
Marginal Standing Facility/SLF(Rs in Cr) 12,205.21 7,101.48
Net System Liquidity (Rs in Cr) 2,87,763.79 3,09,515.52












MONEY MARKET (%)
T-Bill Cut-off Current Previous
91 – Days 5.3872 5.3851
182- Days 5.5291 5.5399
364 – Days 5.5701 5.5924
Certificate of Deposits Yield 25th July ‘25 18th July ‘25
3-Months 5.7400 5.7600
1-year 6.2300 6.2300
Commercial Paper Yield 25th July ‘25 18th July ‘25
3-Months 5.8000 5.8200
1-year 6.2800 6.3000
Overnight Indexed Swap Rate(%) 25th July ‘25 18th July ‘25
1-year 5.5300 5.5000
5-years 5.7300 5.7000

DEBT MARKET
GOVERNMENT SECURITIES (%)
Security Open High Low Close
CG 2030 (5-Year)(%) 6.04 6.08 6.03 6.08
CG 2035 (10-Year)(%) 6.30 6.36 6.29 6.35
CG 2054 (30-Year)(%) 6.98 6.99 6.94 6.99









INFLATION:
Inflation  
 
Period
Category Y.O.Y (%) Previous Month figures (%)
Wholesale Price Index (WPI) June-2025 All Commodities -0.13 0.39
Core WPI June-2025 Core 1.00 0.90
Consumer Price Index (CPI) June-2025  
Combined
2.10 2.82
Core CPI June-2025 Core 4.40 4.20

KEY EVENTS AHEAD:
US FOMC Meeting

29th -30th July 2025

BOJ Policy Decision

31th July 2025

Core PCE Price Index - US

31th July 2025

Non-Farm Payrolls - US

01st Aug 2025

Reserved Bank of India Policy Decision

06th Aug 2025

BOE Bank Rate - UK

07th Aug 2025


GLOBAL TREASURY BOND YIELDS (%):
 
25th July ‘25 11th July ‘25
US 10-Year 4.4117 4.4093
UK 10-Year 4.6450 4.6220




KEY INTERNATIONAL RATES (%):
25th July ‘25 11th July ‘25
US Fed Funds Rate 4.25-4.50 4.25-4.50
Euro Central Bank 2.15 2.15
Bank of England 4.25 4.25
Bank of Japan 0.50-0.25 0.50-0.25