Free Trial

RBI & Reverse Repo Op Awaited; Auction Devolved On Primary Dealers

INDIA

Markets await the RBI rate announcement later today, the bank are expected to keep rates on hold but participants will look to any announcement of further bond buys from the central bank, especially after India increased issuance amounts earlier this week in order to compensate regional governments.

  • The RBI auctioned INR 320bn of bonds yesterday, moved forward by a day to accommodate the RBI announcement.
    • Auction Details:
    • INR 110bn 5.63% 2026 bonds (INR 107.4bn taken by primary dealers)
    • INR 126.10bn 6.64% 2035 bonds, yield
    • INR 70bn 6.67% 2050 bonds, (INR 19.4bn taken by primary dealers)
    • INR 40bn FEB 2033 bonds
  • As well as the rate announcement, the RBI will conduct INR 2tn of 14-day reverse repos today.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.