Samvat 2078: More bang than whimper for rupee, bond this new year

The rupee was at 74.61 to a dollar on November 13 - the beginning of Samvat. It ended at 74.46 to a dollar on Wednesday

It was a Samvat like no other for the Indian bond market. Be that as it may, Samvat 2078 could be even more interesting for the rupee, say experts.

The 10-year bond yield was at 5.88 per cent at the beginning of Samvat 2077 - a result of the Reserve Bank of India’s (RBI's) extraordinary liquidity measures and active intervention to keep yields below 6 per cent to make it easy for the government and the corporate entities to borrow. The 10-year yields closed at 6.34 per cent on Wednesday - a rise of 48 basis points.

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