India cbank to buy up to 100 bln rupees of bonds on March 1

Last Updated: Mon, Feb 25, 2013 13:40 hrs

MUMBAI, Feb 25 (Reuters) - India's central bank will buy up to 100 billion rupees ($1.9 billion) of federal government bonds on March 1 through open market operation, it said in a release on Monday.

The Reserve Bank of India will buy 7.32 percent 2014 bonds, 7.59 percent 2016 bonds, 8.15 percent 2022 bonds and 8.20 percent 2025 bonds.

The auction will be conducted using the multiple price method. ($1=53.9 rupees) (Reporting by Shamik Paul)

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