India cbank sells 2016 bonds at 105.03 rupees

MUMBAI, Jan 9 (Reuters) - The Reserve Bank of India (RBI) said on Friday it had set a cut-off price of 105.03 rupees at the auction of the 7.59 percent federal bonds maturing in 2016.

The cut-off price corresponds to a yield of 6.70 percent. The 2016 bonds were fully subscribed.

A Reuters poll earlier in the day had forecast the central bank selling the 2016 bonds at 105.75 rupees, or a cut-off yield of 6.5774 percent.

The central bank said it set a cut-off price of 90.81 rupees at the auction of the 6.30 percent federal bonds maturing in 2023. The cut-off price corresponds to a yield of 7.3501 percent.

There was a devolvement of 6.91 billion rupees to primary dealers for the 2023 bonds.

A Reuters poll earlier in the day showed the central bank was expected to auction the 2023 bond at a cut-off price of 94.12 rupees, which corresponds to a yield of 6.9558 percent.

The central bank said it set a cut-off price of 98.87 rupees at the auction of the 7.50 percent federal bonds maturing in 2034. The cut-off price corresponds to a yield of 7.60 percent.

There was a devolvement of 4.26 billion rupees to primary dealers at the auction of the 2034 bonds.

A Reuters poll earlier in the day showed the central bank was expected to auction the 2034 bond at a cut-off price of 100.80 rupees, which corresponds to a yield of 7.4289 percent. (Reporting by Mumbai Treasury Desk)