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.
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