India sells $642m of treasury bills as planned

India sold 30 billion rupees ($642 million) of treasury bills as planned at a weekly auction, the central bank said. The government sold 20bn rupees of 91-day bills at a minimum price of 98.52 per 100 rupee face amount, or a maximum yield of 6.0254 per cent, compared with 6.0668 percent at the previous sale on September 1, the Reserve Bank of India said in an e-mailed statement today. It also auctioned 10bn rupees of 364-day bills at a cut-off price of 93.93 rupees, or a yield of 6.48 per cent, compared with 6.5369 per cent on August 25.