India's 10-year bond yield slips to 7.04% after oil fall
Business
India's main 10-year bond yield slipped to 7.04% this week, thanks to a sharp fall in global oil prices.
Cheaper oil helped boost bond prices and gave the rupee a bit of breathing room, especially as U.S.-Iran peace talks showed some progress.
Still, there's some uncertainty ahead, with US President Trump warning things could change if those talks hit a snag.
RBI announced $5 billion swap auction
To keep things steady, the RBI announced a $5 billion swap auction to help banks with rupee liquidity.
The rupee finally bounced back after eight straight days of losses but is still down about 7% for the year.
Globally, lower oil prices eased inflation worries and pulled down US bond yields too, helping India's yields cool off even more.