The 10-year government bond yield fell over 5 basis points to hit a seven-month low after the Reserve Bank of India announced additional Rs 40,000 crore worth of open market operation (OMO) purchases in December. The 10-year bond yield stood at 7.678%—a level last seen on 8 May, from its previous close of 7.732%. Bond yields and prices move in opposite directions. A 30% drop in Brent crude oil prices from its high of $86.27 in October has also eased fiscal slippage and higher inflation also added positive sentiments among the investors. Rupee has gained 4.61% so far in the month to 70.70 per US Dollar.