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10-yr bond yield drops as RBI mulls injecting more cash into economy

RBI plans to conduct more open market operations of up to Rs 500 billion over the next two months

Reuters  |  Mumbai 

rbi, reserve bank of india

India's benchmark 10-year yield dropped by 2 basis points to 7.39 percent on Tuesday, after reported that the was likely to conduct at least one more forex auction and three to four open market purchases.

The benchmark 10-year yield fell to 7.39 per cent, erasing the day's rise to be steady on the day. Yields had risen to 7.43 percent earlier in the session on the back of

The of (RBI) will probably conduct at least one more of rupees for dollars after the general election, according to three officials with direct knowledge of the plan, part of an effort to support economic growth.

The of also plans to conduct more open market operations of up to Rs 500 billion over the next two months, an said.

 

 

First Published: Tue, May 07 2019. 14:20 IST
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