Rupee Rises Against Dollar Ahead Of Iip, Inflation Data

Mumbai: The Indian rupee on Monday opened higher at 60.51 per dollar against its Thursday’s close of 60.86.

The government is expected to announce some measures, including a possible dollar bond issuance, soon this week.

At 9.09am, the local currency was trading at 60.66 per dollar, up 0.34%. India’s equity benchmark Sensex was trading at 18,853.31 points, up 0.46%.

On Monday, the government will issue the index of industrial production (IIP) and consumer price index (CPI) inflation data at 5.30pm.

A Bloomberg poll showed that IIP will fall 1.1% for June as against a 1.6% decline in May, while CPI will be 9.7% for June compared with May’s 9.87%.

Source:-www.livemint.com