The rupee fell to an all-time low and the bond yield crossed 7% for the first time since July 2024, as Reserve Bank of India’s move to limit banks’ forex positions had little impact on the currency market.
The rupee weakened past the 95/dollar mark to 95.20—down 0.3% on day as worries over elevated crude oil prices kept the stock market on track for the worst fiscal performance since FY21.
The 10-year bond yield hit a high of 7.0121%—the highest since 5 July 2024, and up from the previous session’s close of 6.9419%.
