Indian Rupee seems maintain firm opening stance as progress toward both a coronavirus vaccine and a fiscal rescue package in Europe put the greenback under pressure. Yesterday USDINR intraday range was 75.0350 - 74.8975 before finished at 74.91 levels.
Early data from trials of three potential COVID-19 vaccines released on Monday, including a closely-watched candidate from Oxford University, increased confidence that a vaccine can train the immune system to recognize and fight the novel coronavirus without serious side effects.
Intense rain and floods in the Indian state of Assam have killed at least 84 people and displaced more than 2.75 million since May, authorities said on Monday, as they tried to collect the bodies of nine rare rhinos drowned in the past 10 days.
India is looking to privatize more than half of its state-owned banks to reduce the number of government-owned lenders to just five as part of an overhaul of the banking industry, government and banking sources said.
IndiGo, India's biggest airline, said it will cut 10% of its workforce as it grapples with declining revenues due to the fallout from the COVID-19 pandemic.
INTRADAY RANGE - 74.58 ( 74.72 - 74.94 ) 75.10
GLOBAL HIGHLIGHTS
Asian indices started with positive note after U.S. markets gained ground on positive data from trials of three potential COVID-19 vaccines and hopes that the European Union would finalize a recovery fund.
Gold prices to their highest level since September 2011 on Monday. U.S. gold futures settled up 0.4% to $1,817.40 per ounce.
European Union leaders appeared close to agreement on a massive (750 billion euro) stimulus plan for their coronavirus-blighted economies late on Monday after the chairman of their fractious four-day summit presented a new proposal to bridge gaps between them.
U.S. economic stimulus after congressional Republicans announced plans to seek another $1 trillion in coronavirus economic relief.
Japan’s budget for next fiscal year won’t set a spending cap on requests aimed at fighting the COVID-19 pandemic, the finance minister said, suggesting the heavily indebted government would ramp up efforts to revive the coronavirus-battered economy.
Mexico has spoken to a host of foreign companies, particularly steelmakers, in an effort to lure business from Asia to capitalize on a new North American trade deal, Economy Minister Graciela Marquez said on Monday.
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