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Government bond yields would fall further this week due to the Reserve Bank of India (RBI) announcing an open market operation (OMO) for purchase of government bonds up to Rs 10,000 crore on Friday. The OMO will be conducted on Wednesday.
The yield on the 10-year benchmark bond 8.83 per cent 2023 ended at 8.63 per cent on Friday, against the previous close of 8.62 per cent. Yields started softening earlier this month on hopes of a drop in inflation. "The yield on the 10-year benchmark bond may trade in the range of 8.50 to 8.60 per cent this week," said a government bond dealer with a public sector bank.
The rupee might appreciate further on the back of dollar flows the domestic markets are able to attract.
"The rupee may trade in the range of 61.25-61.70 this week," said a currency dealer with a state-run bank.
The rupee had ended at 61.55 a dollar on Friday against the previous close of 61.54.
