Indian Rupee Jumps on RBI Steps to Support Currency; Bonds Fall

The Indian rupee strengthened significantly after the Reserve Bank of India (RBI) implemented measures to support the currency, marking its biggest jump in six months. The central bank's actions are seen as its most robust response to currency depreciation since the 2013 taper tantrum.

However, the RBI's intervention also led to a fall in Indian government bonds, with the yield on the benchmark 10-year bond rising to its highest level since March 2017.