Ashutosh Raina of HDFC Bank said, "The earlier than expected rate cut by Reserve Bank of India (RBI) last week has spurred the Indian markets; with currency, equity and bond markets rallying. The USD / INR currency pair is back in 61-62 range with appreciating bias."
He further added, "The 10-year bond yields are approaching the 7.50 percent mark with markets anticipating another rate cut at the upcoming RBI credit policy.
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