Indian bonds drop after interest rate increases

Note: This section contains information in English only.
Source: Bloombeg
© Scanpix/Reuters
10-year Indian government bonds dropped after the central bank increased its interest rates to fight currency depreciation. The yield on 7.16% government securities expiring in May 2023 jumped 6 basis points to 8.05%, while it has already increased 52 basis points so far this week, the biggest surge since March 2009. The Rupee decreased 0.1% to 59.7687 per U.S. Dollar.
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