Rupee, bonds fall as Fed further reduces stimulus

MUMBAI (Reuters) - The rupee fell on Thursday, tracking weakness in emerging markets after the Federal Reserve further pruned its monetary stimulus.

The partially convertible rupee was last at 62.77/78 versus Wednesday's close of 62.41/42. It had earlier dropped to as low as 62.90.

Bond yields also rose in line with losses in the rupee. The 10-year bond yield was last at 8.80 percent, up 3 basis points.

(Reporting by Subhadip Sircar; Editing by Subhranshu Sahu)