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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

New 10-year govt bonds issued at 6.97 per cent

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 ...