Bond yields surged to over three-and-a-half-month high as a rise in global crude oil prices heightened concern about domestic inflationary pressure and fiscal slippages. Rupee also hit a six-week low against US dollar.
The 10-year government bond yield ended at 7.475% – a level last seen on 11 January – from its Friday’s close of 7.39%. Bond yields and prices move in opposite directions.
The rupee ended at 69.67 a dollar, down 0.45% from its previous close of 69.36. The home currency opened at 69.76 a dollar and touched a low of 69.88.
