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India bonds, rupee fall after RBI deputy Patel named cbank chief
August 22, 2016 / 3:52 AM / a year ago

India bonds, rupee fall after RBI deputy Patel named cbank chief

MUMBAI, Aug 22 (Reuters) - India bonds and rupee fell on Monday after the government said the Reserve Bank of India Deputy Governor Urjit Patel would be promoted to Governor, a role in which he is expected to hold the line on inflation by keeping interest rates on hold.

Patel is due to start his term on Sept. 4 after his appoinment on Saturday.

The Indian rupee fell to a near one-month low of 67.17/67.18 to the dollar, compared with its close of 67.07 per dollar on Friday.

The benchmark 10-year bond yield rose 4 basis points to 7.14 percent. (Reporting by Neha Dasgupta; Editing by Biju Dwarakanath)

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