INR extends gains on falling international oil prices; dollar weakness

The Indian rupee extended gains in opening trades on Monday tracking persistent weakness in greenback and falling international oil prices. INR commenced at Rs 85.48 per dollar and hit a high of 85.45 so far during the day. On Friday, rupee gained for the second consecutive day supported by steady risk appetite and a weaker dollar index. The domestic currency closed 22 paise higher at 85.50 against the dollar as a recovery under 86 mark extended. However, muted start in equities could limit gains in the counter. Investors await a slew of economic reports, with India's May Industrial Production data due out later in the day, followed by the manufacturing Purchasing Managers' Index (PMI) for June on July 1 and the services PMI on July 3. On the NSE, USDINR futures are marginally lower at 85.57.

 

Powered by Capital Market - Live News