22 August 2016 at 1:55 GMT
Investors in Indian markets have a recent rally in bonds and stocks to thank for any nervousness Urjit Patel’s appointment as central bank boss is causing. Benchmark 10-year bond yields dropped to a seven-year low and the S&P BSE Sensex has surged 5% since current governor Raghuram Rajan announced on June 18 that he won’t seek another term. Rupee forwards advanced 0.1% in Singapore early Monday, after Patel’s appointment was announced Saturday. The currency fell 0.4% on Friday.
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