India Bonds Drop a Second Day on Concern Inflation Will Quicken
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India’s 10-year bonds declined a second day on concern inflation will accelerate after fuel prices were raised.
Refiners including Indian Oil Corp., the nation’s biggest, increased diesel prices by 3 rupees (7 cents) a liter, kerosene by 2 rupees a liter and cooking gas by 50 rupees for every 14.2 kilogram bottle on June 24. The government borrowed 60 billion rupees selling 35-day cash management bills today, the central bank said in a statement.