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Rupee gains at open helped by cbank measures on gold

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Reuters MUMBAI

MUMBAI (Reuters) - The rupee and bonds opened stronger on Tuesday after the Reserve Bank of India (RBI) further tightened gold import rules while the government said it was not ruling out a sovereign bond sale to offshore investors.

The RBI moved to tighten gold imports again on Monday, making them dependent on export volumes with an eye to reducing a record current account deficit, but offered relief to domestic sellers by lifting restrictions on credit deals.

The Indian government denied having ruled out a sovereign bond sale and said "all options are on the table", a statement on Monday said.

At 9:05 a.m., the partially convertible rupee was at 59.57/58 per dollar compared to its close of 59.72/73 on Monday.

 

The benchmark 10-year bond yield opened down 5 basis points at 8.04 percent.

(Reporting by Swati Bhat; Editing by Supriya Kurane)

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First Published: Jul 23 2013 | 9:30 AM IST

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