The rupee dropped on from the global dollar strength, while the benchmark bond rallied on morning as the government pared its auction size due to tight cash conditions. India will sell 100 bill rupees worth of bonds on 6 September, instead of the 150 bill rupees, the central bank deliver on Monday. The partially convertible rupee was trading at 66.55/56 per. The 10-year bond yield dropped as much as 17 basis points to 8.29%.
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