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2 years ago
Indian bonds rally on media report govt considering raising foreign debt limits
March 12, 2015 / 4:22 AM / 2 years ago

Indian bonds rally on media report govt considering raising foreign debt limits

MUMBAI, March 12 (Reuters) - India's benchmark 10-year bond rallied on Thursday, sending its yield down as much as 7 basis points to a one-week low, after a newspaper reported the government could raise foreign investment limits on government bonds, citing unnamed sources.

The Financial Express reported the government may increase limits for foreign investors in government bonds by $5 billion to $35 billion, earmarking the amount for longer-term investors such as pension funds and sovereign wealth funds.

The 10-year benchmark bond yield fell as much as 7 bps to 7.69 percent, its lowest since March 5, but it was last trading at 7.73 percent. (Reporting by Suvashree Dey Choudhury and Neha Dasgupta; Editing by Rafael Nam)

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