The yield on the benchmark 10-year bond was 7.37% at 0527 GMT, down from its close of 7.41% on Friday.
The yield on 10-year U.S. Treasury bonds ended the week near its lowest level since late May, following weak data on Friday added to concerns regarding the global economy and traders reassessed the capacity of the Federal Reserve. raise rates much more.
The dollar, however, was on solid footing as traders braced for a sharp rise in US interest rates this week and sought safety as data pointed to a weakening global economy. [USD/]
The partially convertible rupee was trading at 79.83/84 per dollar, once morest its close at 79.8550, helped by gains from its emerging market counterparts.
Traders said concerns over the Reserve Bank of India’s (RBI) intervention to sell dollars to stave off a fall in the rupee also helped contain the falls, but if stock markets continue to fall for during the day, the demand for dollars might increase.
Both the benchmark and the broader NSE equity index were down 0.7% each, ending a six-day rally, dragged down by Reliance Industries following a weaker-than-expected earnings report.
