Indian Bonds Decline as RBI Refrains From Fresh Debt Purchases

Indian bonds fell as an absence of any fresh liquidity measures in the central bank’s policy decision on Friday disappointed traders, even as the government’s record borrowing weighs on the market. The rupee also fell.

The 10-year bond yield rose nine basis points to 6.74%, near the one-year high reached early this week. The local currency declined as much as 0.6% to 90.8550, the most in more than two weeks.