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Reserve Bank of India repurchases Rs. 16.61 billion government bonds
By Richard Connell
New York, July 9 - The Reserve Bank of India bought back Rs. 16,614,200,000 of government bonds in three tranches via auctions on Thursday.
The bank repurchased Rs. 9,264,200,000 of 6.05% bonds due 2019 at a cut-off price of 94 to yield 6.9174%.
The bank received 114 bids totaling Rs. 33,664,200,000, of which 89 bids were accepted.
In a second tranche, the bank repurchased Rs. 7.35 billion of 7.95% bonds due 2032 at a cut-off price of 101.55 to yield 7.7967%.
For this tranche, the bank received 48 bids totaling Rs. 25,451,630,000, of which 12 bids were accepted.
In the third tranche, consisting of 6.3% bonds due 2023, the bank received 6 bids totaling Rs. 3,450,280,000, none of which were accepted.
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