Reserve Bank of India has bought 8.40 per cent, 2025 oil bonds worth Rs 955 crore at a yield of 8.75 per cent from Indian Oil Corporation through special open market operations, according to a company executive. The oil marketing company has been selling 2025 oil bonds since Thursday. The central bank had bought Rs 945 crore of the 2025 oil bond at 8.61 per cent on Friday, compared with 8.75-8.76 per cent this week. Through special open marketing operations, RBI makes outright purchases or repurchases of oil bonds from state-run oil marketing companies and provides dollars through a designated bank. State-run oil refiners will get dollars at the central bank's reference exchange rate
Wednesday, June 11, 2008
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