RBI squeezes money markets to spur selloff in shorter bonds
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Subhadip Sircar
, Bloomberg
India’s key money-market rates and yields on short-term debt rose after the central bank took its first small step toward unwinding emergency pandemic measures.
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India’s key money-market rates and yields on short-term debt rose after the central bank took its first small step toward unwinding emergency pandemic measures.
The interbank call rate rose to as much as 3.50% as against Friday’s weighted average of 3.18% while the yield on a five-year bond was up 10 basis points after the Reserve Bank of India said late Friday it plans to drain liquidity via a reverse repo operation.