# India gets green light to join JPMorgan bond index; rupee, bonds gain

> India's 10-year bond yield dipped to a two-month low of 7.0788% after the country received approval to join JPMorgan's bond index. The rupee gained early to 82.25 per dollar before giving up most of the gain and trading at 82.93.

- Date: 2023-09-22 · published 2023-09-22T12:00:00.000Z
- Category: macro · region India · magnitude medium
- Page: https://feedsoft.ai/events/34392-india-gets-green-light-to-join-jpmorgan-bond-index-rupee-bonds-gain
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

The index inclusion is expected to draw billions of dollars into local government debt and support the rupee, which lowers the local-currency cost of imports. The effect on feed and grain prices is indirect.

## Read by commodity

- USDINR: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/markets/rates-bonds/india-local-government-bonds-added-key-jpmorgan-index-trigger-billions-inflows-2023-09-22/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.