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Key highlights from the Liquidity Monitor |
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US Treasury yields edged higher as market weighed the prospects of a resolution to the Middle East conflict alongside stronger-than-expected economic data. Private sector employment growth, as reported by ADP, came in at 62,000 for March above market expectations; indicating continued resilience in the labour market. |
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Domestically, Government of India has announced a gross borrowing of ₹8.2 lakh crore for the first half of FY27, with the full-year gross borrowing revised down to ₹16.09 lakh crore from the budgeted ₹17.20 lakh crore, reflecting the impact of switches conducted with the RBI. After accounting for maturities of ₹2.46 lakh crore in H1, the net borrowing for the first half stands at ₹5.73 lakh crore. |
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The rupee rebounded from a record low of 95.21 to close at 93.10 per dollar. The rally was driven by measures aimed at limiting arbitrage and speculative trades, including restrictions on non-deliverable forwards and tighter limits on banks’ FX positions; steps intended to stabilize the currency amid rising external pressures. |
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Source: Bloomberg, RBI Website, KMAMC Internal Research | Data as on 2nd April 2026 | Details as per latest data available publicly.
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