Bond yields ended lower as India's foreign exchange reserves fell by $2.470 billion, during the week ended August 20. According to the Reserve Bank of India's (RBI) weekly statistical supplement, the reserves decreased to $616.895 billion from $619.365 billion reported for the week ended August 13.
In the global market, U.S. Treasury yields fell on Friday after Federal Reserve Chair Jerome Powell gave no new hints on when the U.S. central bank is likely to begin paring bond purchases, leading investors to assume a taper is unlikely until later in the year. Furthermore, oil prices pared early gains, off more than three-week highs reached earlier in the session as a powerful hurricane ploughing through the Gulf of Mexico forced shutdowns and evacuations of hundreds of offshore oil platforms.
Back home, the yields on new 10-year Government Stock were ended basis points lower at 6.22% from its previous close of 6.25% on Friday.
The benchmark five-year interest rates were ended 3 basis points lower at 5.65% from its previous close of 5.68% on Friday.