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India bonds slump after RBI announces open market bond sale

India bonds slump after RBI announces open market bond sale

Reuters  |  MUMBAI 

MUMBAI (Reuters) - Indian government bonds yields rose sharply on Monday after the central bank announced an open market sale of debt to mop up excess liquidity that filled the country's banking sector following last year's demonetisation push. The announcement from the Reserve Bank of India late on Friday on a 100 billion rupees ($1.55 billion) sale of government bonds surprised traders, who had expected it to happen in August near the time when the central bank must pay a hefty dividend to the government. The RBI has so far resorted to selling short-end securities through ...

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First Published: Mon, July 03 2017. 12:10 IST
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