13bn Bid For 10bn Reverse Repo

Nepal Rastra Bank (NRB) said last week that it received a bid worth Rs 13.40 billion from the banking and financial institutions (BFIs) for a Rs 10 billion reverse repo it issued last Wednesday. NRB has received 78 sealed quotations from 15 BFIs for the reverse repo with a seven-day maturity period. The NRB has said it has fixed 0.542 per cent weighted average discount rate for the reverse repo this time. The bank had already absorbed Rs 43.50 billion from the financial system by holding four reverse repos and one outright sale auction within a month.