LM:Indian bond yield hits six week high on weaker rupee
Mumbai: The benchmark 10-year bond yield has risen as much as 3 basis points to 8.85%, its highest intra-day level since 25 September, tracking a weaker rupee. The yield was last up 1 basis point at 8.83%.
The rupee has weakened after India’s economic affairs secretary, Arvind Mayaram, said 30-40% of the state-run oil companies’ dollar demand has returned to markets, CNBC-TV18 and Bloomberg TV reported on Thursday.
Selling in bonds is also seen ahead of the Rs.15000 crore auction on Friday, which includes Rs.7,000 crore of the benchmark 10-year debt.
