India government bonds gain after RBI announces OMO

01 Oct, 2013

MUMBAI: Indian federal bonds gained on Tuesday with the central bank saying it will provide liquidity by buying debt via open market operations.

The 10-year benchmark bond yield was down 6 basis points at 8.71 percent. It fell to 8.68 percent in early trades.

Post-trading hours on Monday, India's central bank said it would buy up to 100 billion rupees of bonds via open market operations on Oct. 7.

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