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Our Bureau

Mumbai , Feb. 20

THE Government has cancelled a scheduled auction of government papers worth Rs 5,000 crore to be held before February 22, a release from the Reserve Bank of India said.

The bond market is expected to react positively to this cancellation and prices could move up by 30-40 paise on Tuesday. One-off deals may even see a rise of up to 50 paise, said dealers. The Government of India, in consultation with RBI, has decided to cancel the scheduled auction on review of the current status of central government finances, said the release.

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Rupee edges up; bonds stay flat

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