The Indian rupee is expected to stay on the weaker side of 81 per dollar, while bond yields will remain rangebound until the Reserve Bank of India's (RBI) monetary policy decision on Wednesday when yet another interest rate hike is widely expected.
The rupee ended up 0.45% last week at 81.3175 per dollar but underperformed its Asian peers due to strong demand for the greenback from corporates.
India's benchmark 10-year bond yield declined 8 basis points to 7.2215% in tandem. Its movement this week will be highly dependent on the central bank's commentary. "But the lower range may be difficult to sustain," the trader added, expecting bond yields to stay in the 7.15%-7.30% band for the week.
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