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Bonds recover from session low tracking rupee

by FP Staff  Aug 23, 2013 06:00 IST

Reuters Market Eye - India's benchmark 10-year bond yield up 4 basis points on the day at 8.45 percent, but sharply off the day's high of 8.62 percent tracking a recovery in the rupee from record lows.

The partially convertible rupee at 65.14/15 per dollar, off its record low of 65.56 but still sharply weaker than its close of 64.11/12 on Wednesday.

Some traders speculated the RBI was buying bonds on the electronic system helping the recovery in debt, though it was not a universal view.

Traders will continue to monitor the rupee's movements for further direction.

(Reporting by Swati Bhat)