MUMBAI (Reuters) – India’s 10-year bond yield rose to its highest since late-2014 on Monday as worries of upper crude costs and weakening rupee bolstered inflation considerations.
FILE PHOTO: A person counts Indian forex notes inside a store in Mumbai, India, August 13, 2018. REUTERS/Francis Mascarenhas/File picture
The 10-year benchmark bond yield rose to eight.12 p.c, its highest since Nov. 28, 2014, whereas the rupee touched a record low of 72.32 to the greenback on Monday.
Dealers mentioned the Reserve Bank of India was mildly promoting within the foreign exchange market in contrast to on Friday.
The 10-year paper ended at eight.03 p.c on Friday and the rupee at 71.73 to the greenback.
Reporting by Suvashree Dey Choudhury, Editing by Sherry Jacob-Phillips