The Reserve Bank of India (RBI) conducted an outright open market operation (OMO) sales of government securities worth Rs 9,915 crore in October, the central bank said in its monthly bulletin released on December 20.
The highest of the government securities the central bank sold via OMO was on October 27 worth Rs 1,555 crore. This was followed by Rs 1,425 crore on October 18 and Rs 1,050 crore on October 17.
The RBI Bulletin is a monthly publication that offers insights into the developments in the domestic and global economy.
OMO refers to the purchase or sale of government securities in the open market by the central bank. Such open market sales lead to a fall in bond prices, thereby pushing up yields. Bond prices and yields move in opposite directions.
(This is a developing story, please check back for more details)
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