RBI sells $5.11bn to SBI for redemption of IMDs
| Reserve Bank of India (RBI) today sold $5.107 billion to State Bank of India (SBI) for the redemption of India Millenium Deposits (IMDs) tomorrow. The central bank will sell the remaining $1.972 billion to SBI on Thursday. According to a release issued by RBI today, "the total outgo from foreign exchange reserves for the redemption will be $7.079 billion." |
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First Published: Dec 28 2005 | 6:03 PM IST