Indian government bonds steady as rupee firms amid falling oil
India's government bonds stayed pretty much unchanged on Friday, with the 10-year yield dipping just a bit.
The rupee opened slightly stronger against the dollar, thanks to oil prices dropping around 2% overnight. Brent crude is now hovering near $87 per barrel.
Even with some global drama over US threats to block Iranian ports, stable oil helped keep things calm for India's currency.
July inflation 4.45% ₹32,000cr debt auction
Inflation in July nudged up to 4.45%, showing a little more price pressure than last month.
Meanwhile, all eyes are on today's major debt auction, where the government plans to raise ₹32,000 crore by issuing two new security notes.
The Reserve Bank of India has been stepping in to keep the rupee from swinging too wildly, especially near that ₹95.45 mark, according to traders.