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New 10-year govt bonds issued at 6.97 per cent

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. The auction ...

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First Published: Sat, September 03 2016. 00:11 IST