The Rupee seems under pressure on opening trade as Reserve Bank of India Governor Shaktikanta Das said on Sunday he had tested positive for the coronavirus, the latest high profile name in the country to contract the virus.
At the interbank forex market, the local unit opened weak at 73.64/65 against the US dollar and remained stressed for majority of the session before closing at 73.60/61, a loss of 6 pips over its previous close.
A Singapore arbitration panel has put on hold Future Group's $3.38 billion asset sale to Reliance Industries Ltd, an interim win for Amazon.com Inc, which had alleged the deal between the Indian firms breached existing agreements.
INTRADAY RANGE - (73.58 - 73.82 ) 74.03
GLOBAL HIGHLIGHTS
The dollar found support, as surging coronavirus cases in Europe and the United States and a lack of progress toward a U.S. stimulus package put traders in a cautious mood, although hopes for a Brexit trade deal held sterling steady.
The United States has recorded its highest ever number of new COVID-19 cases for two consecutive days, while Italy has ordered restaurants and bars to shut by 6 p.m. as a fresh wave of infections sweeps Europe.
U.S. House Speaker Nancy Pelosi said on Sunday that she expected a White House response on Monday regarding the latest stimulus spending plan - but there have been few tangible signs that a long-stalled deal is actually nearer.
Analysts reckon that a Joe Biden victory next week, especially if the Democrats win control of the Senate, would likely herald a large U.S. stimulus package and weaken the dollar as the spending improves market sentiment.
Oil prices fell , extending last week's losses, as a jump in COVID-19 infections in the United States and Europe raised alarms.
Over the weekend, Britain's Northern Island minister said there was a good chance of a trade deal.
China's top leaders chart the country's economic course for 2021-2025 at a key meeting starting on Monday, and may adopt a lower or more flexible growth target.
The yuan , which has soared more than 7% since May as China has led the world's recovery from the COVID-19 pandemic, was steady in offshore trade at 6.6631 per dollar.
The Malaysian ringgit opened a fraction firmer on Monday after King Al-Sultan Abdullah rejected on Sunday a request by Prime Minister Muhyiddin Yassin for him to declare a state of emergency.
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