Rupee climbing fast to the dollar, 10-year bond yields back to 6%

With the second wave subsiding and equity markets witnessing flows, the Indian rupee is climbing up against the US dollar.  

At the same time, the Reserve Bank of India (RBI) is trying to maintain a tight leash on the 10-year bond rates, and once again devolved them in Friday’s auction.

The partially convertible currency closed at 72.45 a dollar, down from its previous close of 72.60 a dollar. In the intraday trade, the rupee rose to 72.32 a dollar level, a two-month high.  

Rupee’s strength has been relatively quick. On May 20, it had closed above 73.11 a dollar. There