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India's 10-yr yield hits 25-month high, rupee falls as Fed signalled rate hike

India's 10-yr yield hits 25-month high, rupee falls as Fed signalled rate hike

India's 10-yr yield hits 25-month high, rupee falls as Fed signalled rate hike
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By Reuters Jan 27, 2022 10:46:37 AM IST (Published)

India's benchmark 10-year bond yield rose to 6.71%, up 5 basis points from its previous close and its highest level since Dec. 19, 2019. Rupee was trading at 75.15/16 per dollar at 0439 GMT, after touching 75.18, its weakest since Dec. 24.

India's benchmark 10-year bond yield hit a 25-month high on Thursday and the rupee dropped to its lowest level in a month after the U.S. Federal Reserve signalled it is ready to start tightening monetary policy to rein in inflation soon.

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In its latest policy update, the Fed said it is likely to hike interest rates in March and reaffirmed plans to end its bond purchases in March.
India's benchmark 10-year bond yield rose to 6.71%, up 5 basis points from its previous close and its highest level since Dec. 19, 2019.
The partially convertible rupee was trading at 75.15/16 per dollar at 0439 GMT, after touching 75.18, its weakest since Dec. 24.
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