MUMBAI, Sept 11 - The Indian rupee ended weaker on Monday despite a rally in the Chinese yuan and a softer U.S. dollar as the domestic unit's strength was capped by dollar demand from oil companies and importers, traders said.
The dollar index fell 0.2% to 104.6 in Asia and Brent crude futures also softened slightly to $90.39 per barrel. Meanwhile, while the rupee weakened on Monday, India's benchmark Nifty 50 index hit an all-time high above 20,000.The rupee presented attractive dollar buying levels for importers and fresh long USD/INR positions on Monday, the trader added. While the rupee rose to 82.8375 in morning trade, it subsequently shed much of its gains in the face sustained U.S. dollar demand.
India and the United States will release inflation data this week, but Koikarra expects the rupee to have a muted reaction to the domestic data, while the U.S. inflation print could be a notable trigger.
Nederland Laatste Nieuws, Nederland Headlines
Similar News:Je kunt ook nieuwsberichten lezen die vergelijkbaar zijn met deze die we uit andere nieuwsbronnen hebben verzameld.
Stocks set up for gains amid hopes for soft landing: Stock market news todayUS futures moved higher on Monday as investors weighed Janet Yellen's upbeat remarks on the US economy and as Tesla surged.
Lees verder »
India's Nifty 50 hits record high as local, global investors pile into stocksMarket News
Lees verder »