India raises ceiling on intervention bonds: RBI
India raises ceiling on intervention bonds: RBI
Unni Krishnan / Reuters
Mumbai: India’s central bank said on Wednesday, 8 August, the 2007-08 ceiling on the amount of bonds it can use to absorb funds generated by its currency intervention had been raised to Rs1.5 trillion ($37 billion) from 1.1 trillion rupees.
The new ceiling would be reviewed if outstanding issues of market stabilization scheme (MSS) bonds exceeded Rs1.35 trillion, RBI said in a statement.
The outstanding balance of MSS bonds, including an auction held on Wednesday, was ₹ 989.7 billion, the central bank said.
The ceiling on MSS bond issues was last increased in April, when it was raised to Rs1.1 trillion rupees from Rs950 billion.
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