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India's 10-year bond yield poised for 5th weekly fall; rupee gains

India's benchmark 10-year bond yield was trading at 5.96 per cent by 0852 GMT, down 1 basis point on the day

10-year bonds, benchmark, market, rbi
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Illustration by Binay Sinha

Swati Bhat | Reuters Mumbai
India's benchmark 10-year bond yield dropped marginally on Friday, on course for its fifth straight weekly fall, while the rupee gained tracking an uptick in domestic share markets.

Sentiment for bonds was buoyed on the back of the Reserve Bank of India's 350-billion-rupee ($4.80 billion) worth bond buy on Thursday, while a fall in US Treasury yields also helped.

India's benchmark 10-year bond yield was trading at 5.96 per cent by 0852 GMT, down 1 basis point on the day, while the partially convertible rupee was at 72.98 per dollar, compared to its previous close of 73.10.

Traders were awaiting the results of