IOC, HPCL, BPCL Hold $5 Bln In Oil Bonds: Sources

<?xml version="1.0" encoding="UTF-8"?><root available-locales="en_US," default-locale="en_US"><static-content language-id="en_US"><![CDATA[<p>India's three big state-run oil retailers together hold oil bonds worth about $5 billion, which is likely to be the maximum amount of dollars these companies will be able to buy directly from the Reserve Bank of India (RBI).<br><br>There have been talks that the RBI may sell dollars to oil companies directly against oil bonds to reduce demand from market and contain volatility in the rupee.<br><br>Indian Oil Corp, Hindustan Petroleum Corp Ltd, Bharat Petroleum Corp Ltd &nbsp;hold oil bonds worth 150 billion rupees, 69 billion rupees, and 60 billion rupees, respectively, officials from the oil companies told Reuters.<br><br>The rupee rallied on Monday on hopes for government measures to halt a slump in the currency, which hit a record low on Friday, with traders saying action to boost long-term foreign investment would be the most effective step.<br><br>Finance Minister Pranab Mukherjee said on Saturday that India would unveil measures on Monday but gave no details.<br><br>The RBI last sold dollars to oil companies against oil bonds between 2008 and 2009.<br><br>(Reuters)</p>