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RBI liquidity measures may pressure India bonds; rupee rally to limit losses
MUMBAI: Indian government bonds could open the week under mild selling pressure after the central bank announced measures to absorb banking-system liquidity, although expectations of a sharp rupee rally may help limit losses. The benchmark 6.94% 2036 bond yield may trade in a 7.26%-7.32% band, a trader with a primary dealership said, after ending at 7.2994% on Friday. Bond yields rise when prices fall. Over the weekend, the Reserve Bank of India (RBI) unveiled fresh measures to shore up the rupee, redirecting oil companies’ dollar purchases away from the spot market and tightening hedging rule...
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