The Reserve Bank of India has bought ₹50,000 crore ($5.5 billion) of bonds, as planned, as it seeks to boost liquidity in the banking system.

The cutoff prices at the auction, which had bonds with maturities ranging from 2029 to 2050, were mostly higher than estimates in a Bloomberg News pol l. Yields fell after the Reserve Bank of India published the auction results on Thursday.

The purchase is part of RBI’s plan to inject one trillion rupees worth of liquidity via bond purchase and $5 billion equivalent via a foreign exchange swap this month. The central bank’s efforts to shield the rupee, Asia’s worst-performing currency this year, have drained cash from the system, along with seasonal liquidity strains.

The monetary authority’s open market operations via bond buying can help offse

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