The result of the RBI Reverse Repo auction held today is as under:
The Government of India have announced the sale (re-issue) of (i) “Floating Rate Bond 2020” for a notified amount of `3,000 crore (nominal) through price based auction. The variable interest rate for payment of interest on FRB 2020 will be the average of the implicit yields at cut-off prices of last three auctions of Government of India 182 day Treasury Bills. The reset of variable interest rates will be made semi-annually and will be announced by the Reserve Bank of India on or before the commencement of the respective coupon periods. (ii) “9.15 percent Government Stock 2024” for a notified amount of `6,000 crore (nominal) through price based auction and (iii) “8.30 percent Government Stock 2040” for a notified amount of `4,000 crore (nominal) through price based auction. The auctions will be conducted using uniform price method. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on November 25, 2011 (Friday).
The Reserve Bank of India’s Reference Rate for the US dollar is `51.7165 and the Reference Rate for Euro is `69.8883 on November 21, 2011. The corresponding rates for the previous day (November 18, 2011) were `51.3530 and `69.2589 respectively. Based on the Reference Rate for the US dollar and middle rates of the cross-currency quotes, the exchange rates of GBP and JPY against the Rupee are given below: