Indian rupee, bonds rally after govt sticks to borrow plan

MUMBAI: Indian federal bond yields fell in early trades, while the rupee rose to a near five-month high on Friday after the government stuck to its fiscal second half borrowing and said it will not borrow more via bonds in the current year.

The benchmark 10-year bond yield fell as much as 5 basis points to 8.11 percent.

The rupee rose to a high of 52.55, a level not seen since May 1. It was trading at 52.70/71 in recent trades versus 53.01/02 last close.