The bond markets, too, which had already pushed yields up to nearly 8.8 per cent, jumped higher to about 8.85 per cent, but couldn't sustain at that level, with yields falling back to around 8.76 per cent.
In the forex market, the forward premia, which had shot higher over the past few days, appeared to stabilize at around 170 paise for 12 months. Of course, with the rupee stronger by over 10 paise (0.025 per cent), the premium, when measured as a cost of carry, continued to rise
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