Rupee gains on government FDI steps

Mumbai: The rupee gained modestly on Wednesday as the government eased rules for foreign investment, adding to measures taken by the RBI to suck out rupee liquidity.

The rupee was at 59.19/20 after rising to 59.05 as against 59.31/31 last close.

However, bond yields jumped, adding to Tuesday's large bond price losses. Yield on the most traded 8.33 pct 2026 bond was 10 basis points higher at 8.27 per cent.