June 20, 2013 / 6:18 AM / 4 years ago

India unlikely to cancel Friday's bond auction for now - officials

A shopkeeper staples currency notes to make garlands at a market in Jammu July 27, 2010.Mukesh Gupta/Files

MUMBAI (Reuters) - The Reserve Bank of India is unlikely to cancel Friday's 150 billion rupee bond auction for now, officials close to the development told Reuters on Thursday.

The 10-year benchmark 7.16 pct 2023 bond yield eased 3 basis points from the day's high to 7.33 percent, as expectations of bond cancellation fuelled mild buying.

Officials will wait for the outcome of the underwriting auction to gauge demand for these bonds.

Reporting by Neha Dasgupta and Suvashree Dey Choudhury; Editing by Sunil Nair

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