The rupees decline was limited by a rally in local stocks, which took the key Sensex index to a new closing high, and continued foreign fund inflows. It was the second month of gains for the rupee, which rose 1.8% in October after appreciating 4.7% in September.
The benchmark 10-year bond yields closed 5 bps higher at 8.62%. Volumes remained low at R18,170 crore. Yields, however, dropped 15 basis points in October. The benchmark five-year swap rate closed 1 bp higher at 8.18%, while the one-year rate ended 1 bp up at 8.39%.