Reuters logo
Indian bonds, rupee gain on hike of foreign debt investment limits
March 30, 2016 / 4:11 AM / 2 years ago

Indian bonds, rupee gain on hike of foreign debt investment limits

MUMBAI (Reuters) - India’s 10-year benchmark bond and the rupee gained on Wednesday after the central bank said it would allow foreign investors to buy up to 275 billion rupees ($4.14 billion) in additional sovereign debt next month as part of its plan to gradually raise debt investment limits.

A money lender counts rupee notes at his shop in Ahmedabad, India, May 6, 2015. REUTERS/Amit Dave/Files

Gains also tracked higher regional markets following comments from Federal Reserve chair Janet Yellen calling for caution in raising U.S. interest rates.

The 10-year bond yield was down 2 basis points at 7.49 percent at 0339 GMT, after earlier easing to a more than one-week low of 7.48 percent.

The rupee INR=D2 strengthened to 66.4175/4200 to the dollar after gaining to as high as 66.37, its strongest level since Jan. 4.

($1 = 66.4100 Indian rupees)

Reporting by Neha Dasgupta; Editing by Rafael Nam

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below