Banks are flush with dollars after bidding for the central bank’s swap auction on Tuesday.
This week, the RBI injected into the system Rs 34,561crore, or $5 billion.
In the same period a year ago, bank purchases of commercial papers had risen 11 per cent.
Four rating agencies — Crisil, Care Ratings, India Ratings and Icra–– had placed bids for rating the upcoming NHAI bond issue.
The bond sale would be known as Regulation S in market parlance, whereby bonds are offered to investors outside the US.
The RBI received bids for $16.3 billion versus $5 billion in its maiden dollar-swap auction.
Under the new swap window, the RBI will buy dollars, instead of bonds, from banks.
US treasury yields have come down this quarter.
Between September 17 last year and March 18 this year, IL&FS failed to repay Rs 5,160.50 crore.
The fund also sees opportunities in commercial real estate; money will be deployed over next 2-3 months
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