India bond yields rise, rupee falls after rate hike
Published on Mon, Mar 22, 2010 at 10:44 | Source : Reuters
Updated at Mon, Mar 22, 2010 at 11:37
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India bond yields rise, rupee falls after rate hike
India's 10-year benchmark bond yield rose 13 basis points and the rupee fell on Monday after the central bank unexpectedly hiked key policy rates by 25 basis points on Friday.
India's 10-year benchmark bond yield rose 13 basis points and the rupee fell on Monday after the central bank unexpectedly hiked key policy rates by 25 basis points on Friday.
* At 9:05 am (0335 GMT), the yield on the 10-year benchmark 6.35%, 2020 bond was at 7.97% after rising to 8.03%, which was its highest since October 8, 2008. It had ended at 7.83% on Friday.
* The partially convertible rupee was at 45.52/53 per dollar marginally below its previous close of 45.50/51.
* At 9:10 am (0340 GMT), the one-year swap rate was at 4.96/99%, up 14 basis points from Friday's close.
* The central bank unexpectedly raised its short-term borrowing and lending rates by 25 basis points each for the first time since it began cutting in 2008, citing intensifying inflationary pressures and a steady economic recovery.
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