Each policy announcement / ratification is being followed by a spurt in the depreciation of the rupee starting with $20-$25 B impact from infra ECB and GSEcs on monday, another from OFS today  and in the fixed Incomemarkets because at least INR 2.2 T is coming up for redemption already in 2022 and till that is solved additional supply of 10 year bonds is unlikely. Till themn pressure will shift to 12 year and 5 year bonds. RBI would still be introducing another INR 70B of the 10 Y benchmark (8.05%) in tomorrow's auction

Posted via email from The India Investment Post