On Monday , USDINR expected to commence trading at weaker note as dollar edged higher in early Asian trade, with investors seeking this safe haven amid fears of a second wave of the Covid-19 outbreak.
On Last trading session (Friday) , USDINR recovered 26 pips at 75.84/85 levels after weaker opening at 76.10/11 levels.
India government said it will provide New Delhi's authorities with 500 railway coaches that will be equipped to care for corona virus patients, after a surge in the number of cases led to a shortage of hospital beds.
Indian oil-to-telecoms conglomerate Reliance Industries raised a total of 64.4 billion Indian rupees ($847 million) from the sale of two stakes in its digital unit Jio Platforms.
INTRADAY RANGE - 75.55 ( 75.75 - 76.12 ) 76.33
GLOBAL HIGHLIGHTS
Several U.S. states have also reported a record increase in new corona virus cases and hospitalizations.
The British pound shed 0.24% to trade at $1.2510 against the greenback due to concerns trade negotiations between Britain and the European Union are not making enough progress.
The British officials told their EU counterparts they will not extend the deadline for trade talks beyond the end of this year.
The dollar was little changed at 107.46 yen as investors avoided big moves before a Bank of Japan policy meeting ending Tuesday.
The BOE is expected to increase its quantitative easing program by 100 billion pounds ($125 billion), with some analysts eyeing an even larger increase amid concerns about future growth.
The Chinese yuan also dipped in offshore trade after Beijing recorded dozens of new cases of the novel corona virus in recent days, all linked to a major wholesale food market.
Oil prices slipped with Brent down 2% at $37.95 a barrel while U.S. crude fell 2.7% at $35.26. Gold rose 0.2% to $1,732.2 an ounce on safe haven demand.
U.S. central bankers have discussed the option of adopting yield curve control to cap bond yields.
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