Indian rupee opens at 94.93 as exporters sell US dollars
Business
The Indian rupee barely budged on Monday, opening at 94.93 per US dollar, just a hair lower than Friday's close.
While oil prices hovered near $114.75 a barrel and the dollar index sat at 101.62, exporters were selling US dollars on all upticks, and importers used cheaper hedging to manage their costs.
Asian currencies mixed, Indian rupee flat
It was a mixed bag across Asia: the Philippine peso took the biggest hit (down 0.26%), while Indonesia's rupiah slipped too.
On the flip side, South Korea's won and Japan's yen ticked up slightly, along with small gains for China's renminbi, Malaysia's ringgit, and Singapore's dollar.
The rupee opened flat against the US dollar, while Asian currencies traded mixed.