Reserve Bank of India auctions 91-day T-bills
Published September 19th, 2007
RBI auctioned 91-day T-bills today (September 19), which was oversubscribed.
The notified amount for the auction was Rs 35 billion out of which Rs 30 billion was market stabilization scheme (MSS) amount. The multiple price-based auction for the bills remained oversubscribed. RBI received 85 competitive bids worth Rs 78.38 billion for the bills. However, it accepted only 30 bids for the notified amount.
The cut-off price determined at Rs 98.29 offered a ytm (yield to maturity) of 6.9781%.
The weighted average price worked out to Rs 90.17, while the partial allotment percentage of competitive bids was 90.17 from 18 bids.
The apex bank received 3 non-competitive bids to the tune of Rs 71 billion for the bills.
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