USDINR start week with firm notes @ 69.07/08.
In early trade USDINR give up all gains on vulnerable India industrial production since Aug 2017 data published on Friday after market closed.
In global front , Rising crude oil prices in overseas market added pressure to the domestic unit, sustained foreign fund inflows and heavy buying in domestic equity market restricted the fall in the local unit.
INTRADAY RANGE - 68.80 ( 68.95 - 69.39 ) 39.69
On Friday, The rupee Friday closed 36 pips lower at 69.16/17 to greenback as forex traders weighed rising crude oil prices. Besides, as forex dealers said, there was concern in the market after reports surfaced that the Supreme Court Friday restrained Arcelor Mittal from acquiring Essar Steel, which in turn might impact dollar inflows considering the Essar Steel acquisition was worth nearly USD 7 billion.
Yields rose after a rebound in Chinese economic data helped to soothe concerns around the world’s second-biggest economy, sapping appetite for government paper and stirring demand for risk assets like stocks. Chinese exports rose 14.2% in March, above economists’ expectations for an 8% climb, following a 20.7% drop in February. China’s loan growth also jumped sharply in March, which was also seen as an upbeat reflection of the country’s economic health.
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