Previous close | 0.0500 |
Open | 0.0500 |
Bid | 0.0000 |
Ask | 0.0000 |
Strike | 75.00 |
Expiry date | 2024-01-19 |
Day's range | 0.0500 - 0.0500 |
Contract range | N/A |
Volume | |
Open interest | N/A |
India's inclusion in the JPMorgan emerging market debt index shows their confidence in the Indian economy, the country's economic affairs secretary Ajay Seth told reporters on Friday. India's local bonds will be included in the Government Bond Index-Emerging Markets (GBI-EM) index and the index suite, benchmarked by about $236 billion in global funds, JPMorgan said earlier in the day. Inclusion will start on June 28, 2024, and extend over 10 months, with 1% increments on its index weighting, as India is expected to reach the maximum weighting of 10%, it added.
JP Morgan has announced the inclusion of Indian Government Bonds in its Emerging Market (EM) Indices, a process set to commence from June 2024 and span 10 months, ending in March 2025. The move is anticipated to generate inflows of approximately $25 billion into Indian bonds over this period.
The Indian rupee rose on Friday after JPMorgan said it will include the country's bonds in its emerging market index. "Expectedly, you have importers taking advantage of the dip (on USD/INR)," a currency dealer at a bank said. India's inclusion on JPMorgan's index will start on June 28, 2024, and extend over 10 months with 1% increments on its index weighting.