Indian rupee, bonds rally after better-than-expected CPI data

MUMBAI: The Indian rupee and bonds rallied on Thursday after retail inflation data released after market hours on Wednesday came in above expectations, but further sharp gains are unlikely as investors expect the central bank to keep rates on hold in April, dealers said.

The partially convertible rupee was trading at 60.94/95 per dollar versus its last close of 61.2150/2250.

The benchmark 10-year bond yield was trading at 8.70 percent after opening at 8.68 percent, according to the central bank's reporting platform data. It had closed at 8.72 percent on Wednesday.