Snaping
its losing streak, rupee jumped 20 paise to 63.93 against dollar in
trade today.The domestic currency had fallen 9 paise to
settle at 64.13 against the greenback on Friday amid
sustained demand for the US currency from banks and
importers.Dollar index, which tracks the movement of dollar
against a trade weighted basket of six major world currencies,
stood at 97.32, down 0.02 per cent.All eyes were on the Reserve
Bank of India (RBI) policy review on Tuesday. While, the
apex bank is largely expected to remain unchanged on policy
rates, the currency market is expected to take cues from
its comments on the macro economy.
China's
yuan barely moved against the dollar on Monday after the central bank
fixed its guidance rate little changed, while a fresh
survey showing that the Chinese factory activity remained weak had
no immediate impact on trading. The People's Bank of China set the
midpoint rate at 6.1169 per dollar prior to market open, compared
with the previous fix of 6.1172. The spot market opened at
6.2097 per dollar and was changing hands at 6.2096 at midday,
almost unchanged from Friday's close.The offshore yuan was trading
0.15 per cent weaker than the onshore spot at 6.2189 per dollar.
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