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    Bonds rally, rupee posts mild gains after RBI steps

    The benchmark 10-year bond yield fell as much as 69 basis points to 8.21 percent. It was last trading at 8.28 percent.

    August 21, 2013 / 10:28 IST

    Government bonds rallied and the rupee was marginally stronger on Wednesday after the RBI said late on Tuesday it will buy bonds and eased bond-holding rules for banks to ease tight cash conditions.

    Also Read: Downgrade based on rupee fall: JPMorgan


    The benchmark 10-year bond yield fell as much as 69 basis points to 8.21 percent. It was last trading at 8.28 percent.


    The rupee also posted some gains on the back of strong local stocks, with banking shares leading the gains. The rupee was at 63.19/20 versus Tuesday's close of 63.25/26.


    Interest rate swaps were also sharply down. The five-year OIS was down 60 basis points at 8.35 percent, while the one-year was down 44 bps at 9.45 percent, traders said.

    first published: Aug 21, 2013 10:28 am

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