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Bonds, rupee strengthen as crude oil prices fall below $90 a barrel

Hope of global index inclusion drags down bond yields, FPI flows bolster rupee

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Photo: Brent Lewin/Bloomberg

4 min read Last Updated : Sep 09 2022 | 12:29 AM IST

Government bonds and the rupee strengthened sharply on Thursday as crude oil prices declined to their lowest levels in seven months, easing concerns about elevated domestic inflation, dealers said.

Yield on the 10-year benchmark 7.26 per cent 2032 paper settled at 7.08 per cent as against 7.13 per cent at previous close. Bond prices and yields move inversely and a decline on 1 basis point in the 10-year yield corresponds to a rise in price of around 7 paise.

The rupee closed at 79.72 per US dollar as against 79.90 per dollar at the previous close. So far in 2022,

Topics : Inflation Indian Economy Bonds Government bonds Rupee Crude Oil Prices Crude Oil Indian rupee Crude Oil Price Indian bonds CPI Inflation India inflation

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