In today’s media interview, Shri. Kamal Mahajan, Advisor – Treasury & Global Markets, Bank of Baroda,said that despite a weakening Renminbi, the rupee strengthened due to lower crude prices and reasonable post budget Forex inflow. According to him, with clarity on budget numbers for FY21 and fears of increased borrowing abating for this quarter, bond bulls can be seen in action for a while. He added that expectations of RBI continuing with accommodate stance is also helping the yields come down.
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