Indian bond yields, rupee up on RBI policy move

Indian bond yields, rupee up on RBI policy move
Comment E-mail Print Share
First Published: Wed, Feb 14 2007. 12 02 PM IST
Updated: Wed, Feb 14 2007. 12 02 PM IST
Reuters
MUMBAI:The Indian rupee rose slightly and the 9-year bond yield jumped in early trades on 14 February after the central bank had tightened monetary policy by raising the cash reserve ratio.
At 9:01 a.m, the partially convertible rupee was at 44.17 per dollar, stronger than its previous close of 44.205/215.
The 9-year bond yield rose to 8.14 %in initial trades from Tuesday’s close of 7.96 %. There were no early trades in benchmark 10-year bond, which also closed at 7.96 % on Tuesday.
After market hours on Tuesday, the central bank announced a two-stage, 50 basis point increase in the cash reserve ratio (CRR), or the percentage of bank’s total deposits they have to keep with it. The first stage will be effective on 17 February and second on 13 March .
Comment E-mail Print Share
First Published: Wed, Feb 14 2007. 12 02 PM IST
More Topics: Money Matters | Bonds |