India bond yields near 7% as rupee hits record low amid high crude and outflows

India’s bond market is under pressure as the 10-year yield nears the key 7% level while the rupee has hit a record low above 94.20 per dollar. Rising crude oil prices, continued foreign outflows and strong dollar demand are weighing on markets. Higher oil imports could widen the current account deficit and keep inflation elevated. RBI intervention and record state borrowing are also shaping liquidity and yields.