The local currency gained by 8 paise at 69.69/$ due to selling in American currency by banks and exporters.
The Indian rupee opened higher on the first day of New Year. The local currency gained by 8 paise at 69.69/$ due to selling in American currency by banks and exporters. The yields on the 10-year government bonds rose 0.22% to 7.38%.
On the economy front, the eight core industries growth eased to a 16-month low in November at 3.5% compared to that over the same period a year ago. The fall is due to declining oil and fertilizer production, government data showed. Crude oil and fertilizer output recorded a contraction of 3.5% and 8.1%, respectively on an m-o-m basis, as per the data.
On a yoy basis, the domestic unit clocked a 9.23% fall, mainly due to sharp increase in the crude oil prices.
The local unit on Monday gained by 18 paise at 69.77/$.
On the economy front, the eight core industries growth eased to a 16-month low in November at 3.5% compared to that over the same period a year ago. The fall is due to declining oil and fertilizer production, government data showed. Crude oil and fertilizer output recorded a contraction of 3.5% and 8.1%, respectively on an m-o-m basis, as per the data.
On a yoy basis, the domestic unit clocked a 9.23% fall, mainly due to sharp increase in the crude oil prices.
The local unit on Monday gained by 18 paise at 69.77/$.
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