The rupee slipped by 10 paise to 69.33 against the US dollar in the opening deals on Monday. The domestic unit had closed at 69.23, down 6 paise on Friday, owing to increasing demand for the greenback from importers.
During the week, the rupee lost 9 paise. It was the second consecutive week of loss for the local currency.
This week, on the domestic front, inflation and industrial production number will be released and that could trigger a move for the currency, says Gaurang Somaiya, Research Analyst (Currency) at Motilal Oswal Financial Services. "Today, USD/INR pair is expected to open at 69.60 (Apr) and quote in the range of 69.20 and 69.80," Somaiya added.
In the equity market, overseas investors have pumped in a net sum of Rs 8,634 crore into the Indian capital markets
in the first five trading sessions of April, mainly due to positive market sentiment. However, for the 2018-19 fiscal, they were net sellers to the tune of Rs 44,500 crore.
On the global front, Asian shares inched up to seven-month highs on Monday as investors cheered a rebound in US payrolls and hints of more stimulus in China. Chinese blue chips climbed 1.4 per cent while MSCI’s broadest index of Asia-Pacific shares outside Japan followed by gaining 0.4 per cent to its highest since August, Reuters reported.