The Indian Rupee fell by 6 paise at 71.34/$ against US Dollar on Monday on buying in American currency by banks and importers. The local unit also hit a near one-month low against the US dollar in the early trade tracking its Asian peers which fell on fresh doubts over US-China trade deal.
On the economy front, Industrial production data will be released today.
The yield on the 10-year Indian government bond was at 6.558% compared with its previous close of 6.557%.
The dollar index, which measures the US currency’s strength against a basket of major currencies, was down 0.01% at 98.34 from its previous close of 98.353.
The Indian rupee on Friday plummeted against the dollar after Moody’s changed its India rating outlook to negative citing lower economic growth.
Meanwhile, Asian shares edged higher on Monday after US President Donald Trump said that trade talks with China were moving along “very nicely,” however, it remained uncertainty remained over whether a deal would be signed this year, Reuters reported.
Further, Equity benchmark BSE Sensex is trading 24 points and the Nifty is trading at 11,912, up marginally 4 points.