Bonds gain as Indian rupee off record lows

'Recovery in Indian rupee following RBI intervention earlier in session aiding bonds.'

Written by Reuters | Mumbai | Published: August 20, 2013 1:15 pm

India’s benchmark 10-year bond yield down 6 basis points on the day at 9.17 percent and 31 bps off its session high of 9.48 percent reached in early trade,the highest in over five years.

Traders say the recovery in the rupee following the central bank intervention earlier in the session aiding bonds.

Volumes,however,continue to remain low,triggering much larger moves even with small traders.

The partially convertible rupee at 63.66/67 per dollar compared with its close of 63.13/14 on Monday but off the record low of 64.13 reached in early trade.

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