India central bank to conduct 4-day term reverse repo variable rate auction

MUMBAI Fri May 30, 2014 10:16am EDT

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MUMBAI May 30 (Reuters) - India's central bank on Friday said it will conduct a 4-day term reverse repo variable rate auction for 150 billion rupees ($2.54 billion) on June 2 after assessing the evolving liquidity conditions.

The Reserve Bank of India can also accept an additional 100 billion rupees under a greenshoe option, it said in a statement. ($1 = 59.0150 Indian Rupees) (Reporting by Nandita Bose; Editing by Alison Williams)

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