Reported 6 months ago
Foreign investors are increasingly purchasing Indian rupee-denominated bonds as India's upcoming inclusion in JPMorgan Chase & Co.'s emerging-market debt index nears. This surge in bond purchases, totaling $358 million on Monday and marking the seventh consecutive day of buying, comes after outflows in April due to global market uncertainties. The inclusion of Indian debt in JPMorgan's index in June, combined with factors like reduced short-term borrowings and a record dividend payout by the central bank, has attracted investors and led to a decline in yields for government bonds.
Source: YAHOO