Rupee breaks below 79 per dollar, bond yield at 3-month low

MUMBAI: The rupee strengthened to a sub-79 per dollar level in opening trade on Tuesday to its highest in more than three weeks while the 10-year bond yield fell to a three-month low tracking US yields and losses in the greenback.
The partially convertible rupee was trading at 78.95 per dollar compared to its close of 79.02 after touching 78.94, its strongest since July 7.
The yield on India’s 10-year bond was at 7.21%, after falling to 7.18% in opening deals, its lowest since May 4. The yield was at 7.24% on Monday.
The dollar continued its decline, falling to its lowest in two months against the recovering Japanese yen and losing ground on other peers, as investors continued to position for a less aggressive pace of Federal Reserve interest rate hikes.