Currency Buzz: INR sparkles, gains under 95 per US dollar mark amid falling yields
Mumbai, June 5 -- Indian Rupee saw a sharp spurt today as bold yields moved lower and the Reserve Bank India kept interest rates unchanged. Domestic government bond yields fell after the Reserve Bank India offered wider foreign access to long-term G-Secs. The RBI kept its repo rate Steady at 5.25% amid uncertainty owing to US-Iran War. However, it expanded the Fully Accessible Route, or FAR, to include all new 15-year, 30-year and 40-year government security issuances. Due to this, the foreign investors will get wider access to longer-tenor Indian government bonds. This also opens up more room to invest in India's bond market. The central bank has also removed investment concentration limits for foreign portfolio investors under the general...
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