Premise: May 12 Reserve Bank of India: * India cenbank sets underwriting commission of 0.0014 rupee per 100 rupees for 2023 bonds * India cenbank sets underwriting commission of 0.0017 rupee per 100 rupees for 2026 bonds * India cenbank sets underwriting commission of 0.0039 rupee per 100 rupees for 2034 bonds * India cenbank sets underwriting commission of 0.0044 rupee per 100 rupees for 2044 bonds Source text - (bit.ly/1WrGICx) (Bengaluru newsroom)
Hypothesis: The rupee to USD conversion rate is about 103:1.