<div>The rupee and bonds surged to more than one-month highs on Thursday morning (19 Sep) as the US Fed refrained from withdrawing monetary stimulus as had been widely expected by global markets.</div><div> </div><div>Emerging Asian currencies rallied with most Southeast Asian units up around 2 per cent after the US Federal Reserve surprised investors by postponing the start of reductions to its stimulus programme.</div><div> </div><div>The partially convertible rupee was at 61.88/89 per dollar by 0908 India time (0338 GMT) compared to its close of 63.38/39 on Wednesday, 18 September. The unit rose as high as 61.65, its strongest since August 16.</div><div> </div><div>The benchmark 10-year bond yield trading at 8.18 per cent, after dropping to 8.14 per cent, its lowest since 8 August.</div><div> </div><div>India's 1-year OIS rate trading down 32 bps at 8.80 per cent while the benchmark 5-year OIS down 28 bps at 8.02 per cent, dealers said.</div><div> </div><div>(Reuters) </div>
