The Indian rupee opened higher on Monday tracking gains in the stock markets ahead of the release of WPI inflation numbers.
The currency opened higher by 14 paise at 68.59/$. The yield on the 10-year government bond was at 6.469% compared with Friday's close of 6.488%.
Besides, easing crude oil prices and positive opening in domestic equities supported the rupee. However, foreign fund outflows weighed on the domestic currency and restricted the upmove.
The local unit on Friday had settled at 68.69 against the US dollar.
On the international front, China gross domestic product expanded a seasonally adjusted 1.6% qoq in the second quarter of 2019, and was up from 1.4% in Q1, the National Bureau of Statistics said.
On the economy front, retail inflation for June 2019 rose by 3.18% yoy vs. 3.05% yoy in May. India’s Industrial Production (IIP) for the month of May 2019 stands at 133.6, which is 3.1% higher as compared to the level in the month of May 2018.