Wednesday July 23, 09:36 AM
Rupee rises, bond yields ease after vote win |
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MUMBAI (Reuters) - The rupee rose to its highest in seven weeks and bond yields eased to near three-week lows early on Wednesday, after the ruling coalition won a confidence vote, ending political uncertainty.
At 9:08 a.m., the partially convertible rupee was at 42.41/42 per dollar, off an early peak of 42.40, its highest since June 2, according to Reuters data. It ended at 42.73/74 on Tuesday.
The benchmark 10-year bond yield was at 9.06 percent, off an early trough of 9.04 percent, its lowest since July 4. It ended at 9.12 percent on Tuesday.
The government won the confidence vote late on Tuesday with the help of regional parties, after splitting with its communist allies of four years, who pulled their support in protest at a nuclear energy deal with the United States.
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