USDINR opened 12 pips weak @ 69.06/07 against Friday closed at 68.96/97 levels.
Rupee Early weakness directly correlated with Indices back foot getting clues from Asian region.
Disappointing manufacturing surveys from across the globe, and especially Europe, which weighed on risk sentiment.
TREND - BULLISH TILL HOLD 68.70 INTRADAY RANGE - 68.52 ( 68.72 - 69.33 ) 69.58
On Friday Rupee declined by 12 pips to close at 68.95 against the US dollar on rise in demand for the greenback from importers and sell-off in domestic equities.
Interbank market, the domestic unit opened at 68.64. The local unit moved in a range of 69.10 to 68.52 before finally ending at 68.96, a drop of 12 pips over its previous close.
This inversion of the yield curve is widely seen as a leading indicator of economic recession. It appeared before each of the last seven recessions, according to the National Bureau of Economic Research.
Yields on 10-year Australian bonds have dived almost 20 basis points in just a week to hit record lows at 1.77 per cent. New Zealand's 10-year bonds were also at that historic milestone with a drop to 2.008 per cent.
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