Indian bond yields up ahead of fresh borrowing

Indian bond yields up ahead of fresh borrowing
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First Published: Wed, Sep 24 2008. 09 37 AM IST
Updated: Wed, Sep 24 2008. 09 37 AM IST
Mumbai: Indian federal bond yields rose Wednesday, 24 September, after the government announced a surprise sale of Rs10,000 crore ($2.2 billion) of bonds, which is expected to tighten cash conditions in the banking system further.
After the markets shut on Tuesday, the government said it would sell Rs6,000 crore of 7.94% 2021 bonds and Rs4,000 crore of 8.28% 2032 bonds on Friday.
At 9:08am, the 10-year benchmark bond yield was at 8.58%, higher than Tuesday’s close of 8.44%.
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First Published: Wed, Sep 24 2008. 09 37 AM IST
More Topics: Bonds | Yield | RBI | Inflation | Dollar |