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Bond Prices, Rupee Gains On RBI's OMO Move And Crude Oil Prices Softening


The rupee as well as bond prices gained in Wednesday's session as the continued decline in crude oil prices eased fears around fiscal slippage and high inflation. Rupee in today's trade opened at nearly 2-month high of 72.16 against the US dollar versus previous closing of 72.66 a dollar. The rupee further strengthened to 72 mark against the greenback for the first time since September 21.

Bond Prices, Rupee Gains On RBI's OMO Move And Crude Oil Prices Softening

In tandem, bond prices also gained today due to RBI's announcement of buyback of G-securities through open market operations or OMOs. The central bank on Tuesday made an announcement that it will buy bonds worth Rs. 12,000 crore through OMO on November 15.

Bond prices scaled to 15-week high. The yield on 10-year government bond stood at 7.708% versus previous trading day closing of 7.804%. Bond prices and bond yield share inverse relationship.

Retail inflation for the month of October also came in lower at 3.31% compared to 3.7% in September due to decline in prices of vegetables, pulses and sugar.

In the current calendar year, rupee has depreciated by as much as 11.5% and foreign investors have sold $5.72 billion and $7.87 billion in the equity and debt markets,respectively.

Read more about: rupee bond crude oil rbi bond prices omo
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