On the domestic front, India's consumer inflation during February eased to 5.18%, when compared with the reading of 5.69% in January.
The Indian rupee opened lower by 11 paise at 67.22/$ on Monday as against previous close of 67.11/$. On the domestic front, India's consumer inflation during February eased to 5.18%, when compared with the reading of 5.69% in January. The inflation rates for rural and urban areas for February are reported at 5.97% and 4.3%, as compared to 6.48% and 4.81% respectively during the prior month.
On the globalfront,China's industrial production and retail sales both slowed in the first two months of the year. Industrial output rose 5.4% on yoy basis, slightly below estimates. Retail sales rose 10.2% on yoy basis, also coming in slightly below estimates, while fixed‐asset investment spending came in at 10.2% on yoy basis.
The Indian rupee opened lower by 11 paise at 67.22/$ on Monday as against previous close of 67.11/$. On the domestic front, India's consumer inflation during February eased to 5.18%, when compared with the reading of 5.69% in January. The inflation rates for rural and urban areas for February are reported at 5.97% and 4.3%, as compared to 6.48% and 4.81% respectively during the prior month.On the globalfront,China's industrial production and retail sales both slowed in the first two months of the year. Industrial output rose 5.4% on yoy basis, slightly below estimates. Retail sales rose 10.2% on yoy basis, also coming in slightly below estimates, while fixed‐asset investment spending came in at 10.2% on yoy basis.
The home currency closed at 67.11, down 7 paise from its previous close of 67.04 on Friday. The local unit had hit a high of 67.35 and a low of 67.43. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.02 and for Euro stood at 74.80. The RBI’s reference rate for the Yen stood at 58.90; reference rate for the Great Britain Pound (GBP) stood at 96.3389.
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