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Bond market cheers as government stays course on fiscal discipline

Yield on Government of India bonds falls by 15 basis points, rupee strengthens at 68.41 against the dollar

Abhijit Lele  |  Mumbai 

Responding positively to the Union government's decision to stick to fiscal deficit targets, the yields on government securities eased substantially on the last trading day of February. The yield on the Government of India's benchmark paper (7.59 per cent 2016) fell by 15 basis points (a basis point is a hundredth of a percentage point) to 7.62 per cent, according to Bloomberg data. The rupee strengthened at 68.41 against the dollar. The rupee had closed at 68.41 on Friday last. Read our full coverage on Union Budget 2016 Hariharan Krishnamoorthy, treasurer at First Rand ...

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