Rupee inches 5 paise higher; bond yield tests 6.9%

The Indian rupee that plunged to a record low on Monday staged a comeback on Tuesday, gaining 5 paisa to close the day at 76.91 against the dollar.
 

Bond yields, on the other hand, remained elevated as crude oil prices hovered around $130 barrel.  The yield on the 10-year government paper may harden further if the Russia-Ukraine tension continues as crude oil prices will also stay elevated.
 

Analyst said the central bank may revise its inflation target for the next financial year due to the sharp rise in crude oil prices in the past 10-12 days after the geopolitical situation