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Indian lenders defer dollar debt sale plan as rates turn expensive

Amidst rising US Treasury yields and a depreciating rupee, multiple Indian banks, such as Canara Bank, PNB, and Bank of India, are delaying their dollar debt initiatives. The looming expiration of the Reserve Bank of Indias hedging facility in December adds further pressure to these institutions. Nevertheless, there remains a glimmer of optimism among certain banks regarding potential future dollar bond sales as market conditions evolve.

27 Oct 2026 3:33 pm