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Informist, Saturday, Mar. 15, 2025

NEW DELHI – The Reserve Bank of India did not buy or sell government bonds in the secondary in the week ended Mar. 7, data released Friday by the central bank showed. This was the fifth straight week when the RBI was absent from the secondary market after buying INR 388.15 billion worth of gilts through its screen-based operations in January.

While the RBI refrained from secondary market activity, it continued to buy gilts through auctions. The central bank bought INR 500 billion worth of government bonds at an open market operation auction on Wednesday.

The RBI has bought a total of INR 1.5 trillion of bonds through OMO auction since January. The central bank will look to buy another INR 500 billion worth of bonds at an OMO auction on Tuesday. 

RBI's bond purchases are part of its liquidity infusion measures, which began in the second half of January after its heavy dollar sales in the foreign exchange market to prop up the rupee led to a significant tightening in rupee liquidity. In addition to its bond purchases, the RBI has conducted multiple long-term variable rate repos and dollar/rupee buy/sell swap auctions in addition to daily fine-tuning operations. It is scheduled to conduct a $10 billion, three-year dollar/rupee buy/sell auction on Mar. 24.  End

US$1 = INR 87.00

Reported by Shubham Rana

Edited by Akul NIshant Akhoury

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