The Indian rupee opened higher on Monday tracking gains in the stock markets ahead of the release of WPI inflation numbers.

The currency opened higher by 14 paise at 68.59/$. The yield on the 10-year government bond was at 6.469% compared with Friday’s close of 6.488%.

Besides, easing crude oil prices and positive opening in domestic equities supported the rupee. However, foreign fund outflows weighed on the domestic currency and restricted the upmove.

The local unit on Friday had settled at 68.69 against the US dollar.

Allahabad Bank drops 9.5% after reporting Rs 1,775 Cr fraud by Bhushan Power.

USFDA issues no observations to Natco Pharma’s API facility in Chennai. Stock up 1%.

Infosys gains 4% on strong Q1 nos.

BHEL stock trades flat after order win.

DHFL hits 10% lower circuit after reporting loss in Q4.

On the international front, China gross domestic product expanded a seasonally adjusted 1.6% qoq in the second quarter of 2019, and was up from 1.4% in Q1, the National Bureau of Statistics said.

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