Indian Rupee Slides, Bonds Rally After RBI Seizes Yes Bank

(Bloomberg) -- The Indian rupee headed toward a record low and bond yields slid to a new 2016 low after the central bank seized control of Yes Bank and limited deposit withdrawals.

The rupee fell as much as 1% to 74.0238 per dollar, approaching the record low of 74.4825 reached in October 2018. Yields on the benchmark 10-year sovereign bond were nine basis points lower to 6.15%.

To contact the reporter on this story: Subhadip Sircar in Mumbai at ssircar3@bloomberg.net

To contact the editors responsible for this story: Tan Hwee Ann at hatan@bloomberg.net, Liau Y-Sing

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