<p>The Reserve Bank of India's central bank-backed digital rupee was used to settle secondary market transactions in Indian government bonds worth Rs 2.75 billion ($33.29 million) as part of a pilot, data on Tuesday showed.</p>.<p>Trades in a total of three securities –– five-year 7.38 per cent 2027 former benchmark 6.54 per cent 2032 and the current benchmark 7.26 per cent 2032 bonds –– were settled under the new route, data as of 4 pm IST (1030 GMT) showed.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/economy-business/first-pilot-of-digital-rupee-to-commence-on-november-1-rbi-1158183.html">First pilot of Digital Rupee to commence on November 1: RBI</a></strong></p>.<p>"Since this was the first day, some deals only in liquid bonds were settled using CBDC," a trader with a state-run bank said.</p>.<p>The e-rupee would make the interbank market more efficient, the RBI said on Monday when it announced the pilot for CBDC in the wholesale segment.</p>.<p>"Settlement in central bank money would reduce transaction costs by pre-empting the need for settlement guarantee infrastructure or for collateral to mitigate settlement risk," the RBI had said.</p>.<p>It plans to launch the e-rupee for the retail segment within a month.</p>.<p>($1 = 82.6230 Indian rupees) </p>
<p>The Reserve Bank of India's central bank-backed digital rupee was used to settle secondary market transactions in Indian government bonds worth Rs 2.75 billion ($33.29 million) as part of a pilot, data on Tuesday showed.</p>.<p>Trades in a total of three securities –– five-year 7.38 per cent 2027 former benchmark 6.54 per cent 2032 and the current benchmark 7.26 per cent 2032 bonds –– were settled under the new route, data as of 4 pm IST (1030 GMT) showed.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/economy-business/first-pilot-of-digital-rupee-to-commence-on-november-1-rbi-1158183.html">First pilot of Digital Rupee to commence on November 1: RBI</a></strong></p>.<p>"Since this was the first day, some deals only in liquid bonds were settled using CBDC," a trader with a state-run bank said.</p>.<p>The e-rupee would make the interbank market more efficient, the RBI said on Monday when it announced the pilot for CBDC in the wholesale segment.</p>.<p>"Settlement in central bank money would reduce transaction costs by pre-empting the need for settlement guarantee infrastructure or for collateral to mitigate settlement risk," the RBI had said.</p>.<p>It plans to launch the e-rupee for the retail segment within a month.</p>.<p>($1 = 82.6230 Indian rupees) </p>