The RBI's investment in the state-owned India Infrastructure Finance Company (IIFC) UK subsidiary fell by a fifth from a year earlier to $932 million in FY’2023-24, according to the latest Half Yearly Report on Management of Foreign Exchange Reserve released on Monday. The central bank is mandated to invest small portion of its foreign exchange reserves- $ 5 billion in the company.
Open FlipTuesday saw an increase in oil prices as it appeared that operational problems, increased demand, and voluntary output reductions would tighten the supply-demand balance. U.S. West Texas Intermediate crude futures increased by 18 cents to $79.30 per barrel. Futures for Brent crude increased by 19 cents to $83.55 a barrel.
Open FlipA pricing contest is playing out between the Reserve Bank of India (RBI) and sovereign bond traders as the central bank tries to deftly manage the government's borrowing cost, provide sufficient liquidity to the markets, and ensure that its stance of withdrawing accommodation is not diluted.At a buyback auction of government bonds last week, the RBI accepted bids worth only ₹10,512.99 crore.
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