India govt bonds log record foreign inflows in July-Sept after JPM index inclusion
Foreign purchases hit a record in the three-month period after Indian government bonds were included in JPMorgan's emerging market debt index
Overseas investors net bought bonds worth 612.65 billion rupees ($7.31 billion) in July-September, with monthly inflows hitting a record high in August, CCIL data shows
Foreign investors anticipated to buy as much as $12 billion of government bonds in October-March
Indian bonds got included in JPMorgan's index on June 28, and the pace of inflows per month has been higher than what was previously anticipated
The inclusion coincided with the change in interest rate cycle globally, prompting some investors to boosttheir investments, and this should continue in current quarter as well, a trader with a foreign bank says
($1 = 83.8080 Indian rupees)
Reporting by Dharamraj Dhutia
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