Bond yields ended lower despite country’s foreign exchange reserves surged by $9.427 billion to record high of $ 620.576 billion in the week ended July 30. In the previous week ended July 23, the reserves had declined by $ 1.581 billion to $ 611.149 billion.
In the global market, U.S. Treasury yields rose Friday after a strong jobs report that was in line with goals the Federal Reserve has set to start unwinding stimulus. Furthermore, oil prices dropped 2%, extending last week's steep losses on the back of a rising U.S. dollar and concerns that new pandemic curbs in Asia, especially China, may set back the global recovery in fuel demand.
Back home, the yields on new 10-year Government Stock ended 1 basis point lower at 6.22% from its previous close of 6.23% on Friday.
The benchmark five-year interest rates ended 4 basis point lower at 5.73% from its previous close of 5.77% on Friday.
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