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  Business   Economy  02 May 2018  Bonds gain after RBI relaxes foreign investment rules

Bonds gain after RBI relaxes foreign investment rules

REUTERS
Published : May 2, 2018, 11:00 am IST
Updated : May 2, 2018, 11:00 am IST

The benchmark 10-year bond yield was down 5 basis points at 7.72 per cent by 0337 GMT.

RBI withdrew a restriction that allowed foreign portfolio investors to invest in corporate and government debt with tenures of three years or more.
 RBI withdrew a restriction that allowed foreign portfolio investors to invest in corporate and government debt with tenures of three years or more.

Mumbai: Indian bonds gained on Wednesday morning after the central bank relaxed investment rules for foreign investors in debt by allowing them to invest in short-term treasury bills issued by the central government.

Last week the Reserve Bank of India withdrew a restriction that allowed foreign portfolio investors to invest in corporate and government debt with tenures of three years or more.

The benchmark 10-year bond yield was down 5 basis points at 7.72 per cent by 0337 GMT.

The partially convertible rupee was flat at 66.66 per dollar after falling to a low of 66.75 in initial trades.

Tags: rbi, foreign investment, fpi, investors
Location: India, Maharashtra, Mumbai (Bombay)