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VERIFIEDET Markets·negative
Indian lenders defer dollar debt sale plan as rates turn expensive
AI Summary
- ·Indian banks including Canara Bank, PNB, and Bank of India are postponing dollar debt sales due to rising US Treasury yields and a weaker rupee.
- ·The upcoming expiry of the RBI's hedging facility in December is also a contributing factor to the deferral.
- ·Some banks remain hopeful for future dollar bond sales as market conditions improve.