Mumbai: The Reserve Bank of India (RBI) said on Thursday it had set a cut-off price of Rs98.60 at the auction of 7.38%, 2015 bonds, yielding 7.6998%.
It sold Rs60 billion of the 2015 bond and the bond was fully sold. The cut-off price is higher than a forecast of Rs98.49 or 7.7254% yield in a Reuters poll earlier in the day.
It also set a cut-off price of Rs98.97 for the 8.20% federal bond maturing in 2022 yielding 8.3361%, compared with the Rs98.87 or a yield of 8.3496% estimated in the Reuters poll.
The cut-off price on the 8.28% federal bonds maturing in 2032 was set at Rs96.57, yielding 8.6296%, compared with the polled estimate of Rs97.42 or 8.5412%.
The three bonds were sold for a total of Rs130 billion, the central bank said.