Short-term debt up

Issuances of short-term money market instruments increased on Thursday, and a big chunk of these were in the three-month tenure even as worries over tight liquidity persisted, dealers said.

Around Rs 2,000 crore of short-term debt instruments were placed on Thursday compared with just Rs 1000 crore on Tuesday. Thursday’s big issuer was Bank of India, which issued Rs 1,340 crore worth of certificates of deposit.

Three-month CDs were quoted at 7.95-8.15 per cent on Thursday, marginally up from 7.90-8.10 per cent Tuesday, while one-year CDs were quoted at 8.50-8.70 per cent, up from 8.45-8.65 per cent Tuesday.

Three-month commercial papers were quoted at 8.40-8.50 per cent, unchanged from Tuesday.