You are here: Home » Finance » Money & Forex Markets » News
Business Standard

New 10-year govt bonds issued at 6.97 per cent

On Friday, rupee closed at 66.83 a dollar and foreign exchange reserves stood at $366.77 billion

Anup Roy  |  Mumbai 

The government on Friday auctioned a new 10-year benchmark bond at a cut-off yield of 6.97 per cent. This is the first time since July 2009 that a benchmark 10-year bond has been issued at below seven per cent coupon rate.

On Friday, the last trading day under Reserve Bank of India governor Raghuram Rajan, rupee closed at 66.83 a dollar and foreign exchange reserves stood at $366.77 billion, up from $274.8 billon when Rajan took over on September 4, 2013. The total notified amount was Rs 8,000 crore against which 203 bids worth Rs 41,461 crore were received by the central bank. ...

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Sat, September 03 2016. 00:02 IST