27 Jan , 2022 By : monika singh
MUMBAI: India's benchmark 10-year bond yield hit a 25-month high on Thursday and the rupee dropped to its lowest level in a month after the U.S. Federal Reserve signalled it is ready to start tightening monetary policy to rein in inflation soon.
In its latest policy update, the Fed said it is likely to hike interest rates in March and reaffirmed plans to end its bond purchases in March.
India's benchmark 10-year bond yield rose to 6.71%, up 5 basis points from its previous close and its highest level since Dec. 19, 2019.
The partially convertible rupee was trading at 75.15/16 per dollar at 0439 GMT, after touching 75.18, its weakest since Dec. 24.
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