RBI sells 2018 federal bonds
The Reserve Bank of India said on Thursday that it set a cut-off price of 94.63 rupees at the auction of the 60 billion rupees 8.24 per cent federal bonds maturing in 2018, lower than market expectations.
The cut-off price corresponds to a yield of 9.0785 per cent.
A Reuters poll conducted earlier in the day showed India's central bank was expected to auction the 2018 bond at a cut-off price of 94.83 rupees, or a yield of 9.0469 per cent. It sold this bond via a uniform price auction, a first in two years.
There was no devolvement on primary dealers in both the bonds.
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07-24-2008, 10:39 PM
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