Mumbai: The Indian rupee on Monday opened higher at 61.56 per dollar against its Friday’s close of 61.91.
The US dollar nursed broad losses after surprisingly soft employment data raised doubts about how quickly the US Federal Reserve can scale back stimulus.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 80.5, down 0.19% from its previous close of 80.6.
On Monday, the government will issue the consumer price index (CPI)-based inflation data for December at 5.30pm.
A Bloomberg poll showed that CPI-based inflation will be 10.12% for December as against 11.24% in November.
The yield on India’s 10-year benchmark bond was trading at 8.72%, compared with its Friday’s close of 8.763%.
On Friday, data released by the government showed that the index of industrial production (IIP) contracted 2.1% in November, mostly due to a 21.5% dip in output of consumer durables despite the festive season.
Analysts polled by Reuters had predicted industrial output to grow 1%.
At 9.16am, the local currency was trading at 61.58 per dollar, up 0.54% from its previous close. while the 30-share bellwether BSE Sensex was trading at 20,968.11 points, up 1.01%, from its Friday’s close.
