Rupee Falls To 76.49; India Bond Yield Rises

Rupee Closes Near Day's Low

• Indian Currency Fell 0.44% To 76.49 During The Session

• 10-year yield rises 2bps to 7.17%

Source: Bloomberg

Rupee Falls Against Dollar

• Indian Currency Depreciated 0.36% To 76.43 During The Session

10-Yield Rises 2bps To 7.16%

• Yield On Indian Bond Surged 4bps During The Session

Source: Bloomberg

Most yields along the India sovereign yield curve rose, with 4-year bonds moving the most in Friday morning trading.

• The 2-year yield remained unchanged at 5.448%

• The 10-year yield rose 1.7bps to 7.161%

• The 14-year yield rose 1.2bps to 7.334%

• The 2-year-10-year yield spread was 171.3bps, vs previous close 169.6bps

• The NSE Nifty 50 Index fell 0.8%

Source: Bloomberg

• Rupee Falls Against Dollar

• Indian Currency Depreciated 0.23% To 76.34 During The Session

• 10-Year Yield Rises

• Yield On The Indian Bond Surged 4bps To 7.18% During The Session

• Rupee closed little changed at 76.16 against the U.S. dollar.

• The Indian currency fell 0.2% during a volatile session.

• 10-year yield rose 4 bps to 7.14%.

• Yield on the 10-year bond surged 6 bps to 7.16% during the session.

Source: Bloomberg

Bond traders will wait to gauge demand for Rs 32,000-crore ($4.2 billion) in bond sales as well as minutes of the April RBI meeting, where the monetary authority signaled a shift in policy focus. The rupee is set to open lower in line with emerging peers on hawkish comments by Fed chair Powell.

• RBI to hold Rs 7 lakh crore 14-day reverse repo auction Friday.

• USD/INR down 0.1% to 76.1588 on Thursday.

• 10-year yields rose 4 bps to 7.14% on Thursday

• Global funds sold net Rs 714 crore of India stocks Thursday: NSE

• They sold Rs 165 crore of sovereign bonds under limits available to foreign investors, and withdrew Rs 52 crore of corporate debt

• State-run banks sold Rs 716 crore of sovereign bonds on April 21: CCIL data. Foreign banks bought Rs 2,680 crore of bonds.

Source: Bloomberg