Debt and currency markets in India's financial hub Mumbai are shut on Monday for a local holiday, but the stock exchanges are open. Currency markets in other Indian cities are open, but dealers said they expect thin trading. The rupee ended at 43.8225/8275 per dollar on Friday, 0.18 percent weaker than the previous close, as overseas funds exiting falling Indian stock market bought dollars and foreign banks sold offshore forwards for arbitrage gains. Federal bonds fell sharply last week as traders fretted over fresh supplies worth 70 billion rupees on Tuesday.
The yield on the benchmark 10-year bond rose to 7.0822 percent on Saturday, setting fresh four-month highs. It ended at 7.0147 percent on Friday.
The Indian government will sell the reissued 8.07 percent 2017 bond for a notified 50 billion rupees and the 7.50 percent 2034 bond for 20 billion rupees on April 19.
The sale would be the government's second scheduled auction in the new fiscal year to March 2006.
Bond yields have risen some 35 basis points since the start of the new financial year on April 1, amid worries about a sharp jump in government bond issuances.