Bonds advance as 17-month high yields attract investors
Bloomberg / Mar 10, 2010, 00:43 IST
Ten-year bonds rose for the first time in three days, as yields at the highest in 17 months lured buyers.
Yields have increased 10 basis points since Finance Minister Pranab Mukherjee announced Rs 4.57 lakh crore ($100.3 billion) will be raised from the market. The yield on the 6.35 per cent note due January 2020 fell four basis points to 7.96 per cent as of the 5:30 pm close in Mumbai, according to the central bank’s trading system.
Rupee depreciates
The rupee depreciated, after six days of gains, on speculation importers will purchase dollars to pay for shipments.The rupee weakened 0.2 per cent to 45.6350 a dollar as of the 5 pm close in Mumbai.
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