RBI sets higher-than-expected cut-off yields on most bonds at sale

MUMBAI Fri Jul 19, 2013 4:14pm IST

A grocery shop owner counts rupees notes in Ahmedabad May 23, 2012. REUTERS/Amit Dave/Files

A grocery shop owner counts rupees notes in Ahmedabad May 23, 2012.

Credit: Reuters/Amit Dave/Files

Related Topics

MUMBAI (Reuters) - The Reserve Bank of India set a cut-off price of 94.45 rupees, yielding 8.4981 percent on the 7.28 percent 2019 bonds, sharply higher than the Reuters poll forecast of 8.1708 percent.

For the 7.16 percent 2023 bonds, the RBI set a cut-off price of 94.00 rupees, or yield of 8.0529 percent, a tad lower than the poll forecast of 8.0645 percent.

The cut-off price for the 8.28 percent 2032 bonds was 97.75 rupees, yielding 8.5224 percent, higher than the poll forecast of 8.4950 percent.

For the 8.30 percent 2042 bonds, the RBI set a cut-off price of 97.30 rupees, yielding 8.5515 percent, higher than the poll forecast of 8.5119 percent.

However, in a departure from its usual release, the central bank did not specify the amount of bids it accepted at the 150 billion rupee bond auction. (Reporting by Neha Dasgupta; Editing by Subhranshu Sahu)

FILED UNDER:

Economic Pulse

REUTERS SHOWCASE

Nifty Above 8,600

Nifty Above 8,600

Nifty hits record high above 8,600; state-run lenders gain  Full Article 

Indian in Iraq

Indian in Iraq

India says no contact with 39 men held by Islamic State in Iraq.  Full Article 

Sahara Issue

Sahara Issue

Sahara looks to raise $650 million loan to fund bail.  Full Article 

Bhopal Tragedy

Bhopal Tragedy

Bhopal's toxic legacy lives on, 30 years after industrial disaster.  Full Article 

Essar Group

Essar Group

Exclusive - Essar's planned oil-for-steel deal tests Iran sanctions  Full Article 

Islamic Fund

Islamic Fund

India gets new Islamic equity fund but debt market still off-limits  Full Article 

Fiscal Deficit

Fiscal Deficit

April-October fiscal deficit nears 90 pct of full-year target  Full Article 

Oil Prices

Oil Prices

Oil hits new four-year low post OPEC as glut looms  Full Article 

Gold Imports

Gold Imports

India eases gold import rule in surprise move.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage