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RBI may buy 2015 bond at 8.54 pct in open market ops

Published: 18th November 2013 11:47 AM  |   Last Updated: 18th November 2013 11:47 AM   |  A+A-

RBI2

A man talks on his mobile phone as he walks past the logo of the Reserve Bank of India (RBI) inside its head office in Mumbai June 14, 2010 (Reuters)

    * WHAT: India cbank's open mkt purchase of bonds

    * WHEN: On Monday, bidding from 10:30 a.m. to noon

    * Results due after noon

    * Cut-off yield on 2015 bond seen at 8.5385 pct

    * Cut-off yield on 2016 bond seen at 8.5597 pct

    * Cut-off yield on 2018 bond seen at 8.7254 pct

    * Cut-off yield on 2025 bond seen at 9.1572 pct

 

India's central bank may buy the 7.17 percent bonds maturing in 2015 at 98.02 rupees, yielding 8.5385 percent, at an open market operation (OMO) auction later on Monday, a Reuters poll of 10 traders showed.

The 2015 paper is the most liquid among the bonds to be purchased by the Reserve Bank of India (RBI). 

The RBI has offered to buy up to a total of 80 billion rupees ($1.26 billion) via OMOs, although traders expect it to buy only about 60 billion rupees given that banks will not be willing to sell most of the illiquid securities at a loss from their held-to-maturity portfolios.

    The other bonds the RBI has offered to buy are 7.59 percent 2016 bond, 7.83 percent 2018 bond and 8.20 percent 2025 bond.

    Following are the detailed results of the poll:

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 Bond                         :  7.17 pct 2015 bond

 Maturity date             :  June 14, 2015

 Auction method         :  Multiple price-based

 Settlement date         :  Nov. 19, 2013

 Number of poll respondents:  10

 Median forecast           :  98.02 rupees (8.5385 percent)

 Average forecast          :  97.99 rupees (8.5608 percent)

 Highest Forecast          :  98.08 rupees (8.4963 percent)

 Lowest Forecast           :  97.66 rupees (8.7900 percent)

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 Bond                           :  7.59 pct 2016 bond

 Maturity date               :  April 12, 2016

 Auction method           :  Multiple price-based

 Settlement date           :  Nov. 19, 2013

 Number of poll respondents:  10

 Median forecast           :  97.93 rupees (8.5597 percent)

 Average forecast          :  97.90 rupees (8.5711 percent)

 Highest Forecast          :  97.95 rupees (8.5478 percent)

 Lowest Forecast           :  97.84 rupees (8.6002 percent)

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 Bond                         :  7.83 pct 2018 bond

 Maturity date             :  April 11, 2018

 Auction method         :  Multiple price-based

 Settlement date         :  Nov. 19, 2013

 Number of poll respondents:  10

 Median forecast           :  96.78 rupees (8.7254 percent)

 Average forecast          :  96.66 rupees (8.7570 percent)

 Highest Forecast          :  97.22 rupees (8.6000 percent)

 Lowest Forecast           :  96.00 rupees (8.9468 percent)

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 Bond                          :  8.20 pct 2025 bond

 Maturity date             :  Sept. 24, 2025

 Auction method          :  Multiple price-based

 Settlement date          :  Nov. 19, 2013

 Number of poll respondents:  10

 Median forecast           :  93.15 rupees (9.1572 percent)

 Average forecast          :  93.20 rupees (9.1490 percent)

 Highest Forecast          :  93.90 rupees (9.0471 percent)

 Lowest Forecast           :  92.50 rupees (9.2526 percent)

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 (Reporting by Neha Dasgupta, Archana Narayanan, Himank Sharma and Abhishek Vishnoi; Editing by Anand Basu)



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