India’s Bonds Complete Third Weekly Advance on RBI’s Purchases
This article is for subscribers only.
India’s benchmark bonds completed a third weekly gain on speculation the central bank’s purchases of sovereign debt will spur demand.
The Reserve Bank of India bought a total 111.3 billion rupees ($2.04 billion) of notes maturing in 2018, 2021, 2022 and 2027 today, according to a statement. The monetary authority has bought a total 209 billion rupees of securities in the fiscal year that began April 1, seeking to boost cash supply in the banking system and help the government’s record borrowing program succeed.