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Our Bureau

Mumbai, March 27

In the bond market, prices fell in response to the statements made by the Deputy Governor of the RBI. Dealers said that Mr Rakesh Mohan's statement that credit growth at the current rate could raise liquidity management problems for the banking system was interpreted in a negative way and caused the bond market to shed a few paise. Mr Mohan also said that the recent monetary operations had notresulted in the rise of the long term interest rates. The 9.39-5 year-2011 paper opened at Rs 109.70 (7.14 per cent YTM) and closed at Rs 109.62 (7.16 per cent YTM), lower than Friday's Rs 109.72 (7.13 per cent YTM). The 8.07-11 year-2017 paper opened at Rs 105 (7.39 per cent YTM) and ended at Rs 104.7 (7.43 per cent YTM) down from Friday's close at Rs 105.05.

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