US Treasuries dropped sharply in early Asia trade on Monday, with the heaviest selling in short-dated debt, as investors scrambled to price in an even steeper rate-hike path to tame inflation.
The partially convertible rupee was trading at 78.21/22 per dollar by 0350 GMT, after touching a lifetime low of 78.28. Rupee had ended at 77.8325 on Friday, when it hit its previous life low of 77.8750.
The benchmark 10-year bond yield was trading at 7.60%, its highest since Feb. 28, 2019. Yield had ended at 7.52% on Friday.
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