The Reserve Bank of India today bought oil bonds worth 30 crore from Indian Oil Corporation under its special market operations, a company executive said.
RBI bought 6.35 per cent 2024 oil bonds from Indian Oil at Rs 100.98 or 6.2519 per cent yield.
Yesterday, RBI had bought oil bonds worth Rs 370 crore from Hindustan Petroleum (HPCL) and Bharat Petroleum (BPCL). The central bank had bought 8.20 per cent, 2023 oil bonds worth Rs 150 crore from HPCL and bonds worth Rs 220 crore from BPCL at Rs 118.53 or 6.2645 per cent yield.
The central bank is buying oil bonds to help state-owned oil marketing companies meet their foreign exchange needs.
The government had issued second tranche of Rs 22,000 crore worth of 6.35 per cent, 2024 oil bonds on December 23 to the three public sector oil marketing companies. First tranche of Rs 22,000 crore that was issued on November 10 carried a coupon of 8.20 per cent.
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