At the start of the week, the Chinese yuan extended its losses after five consecutive months of decline while the dollar remained stable. The rupee is expected to rebound

The dollar was stable on Monday. Operators are betting that American inflation may have stabilized enough for the Federal Reserve to cut rates later in 2024, while the euro remained calm ahead of the expected reduction by the European Central Bank this week. The dollar recorded its first monthly drop of the year in May, weakened by changing expectations about when and how much the US central bank would cut rates, with markets expecting the Fed to cut 37 basis points this year

The Indian rupee is expected to rebound at the opening on Monday after exit polls indicated a third term for Prime Minister Narendra Modi. Undeliverable futures indicate that the rupee will open between 83.10 and 83.12 per US dollar, up from 83.4625 in the previous session. The rupee fell by 0.2% on Friday, in the run-up to the exit elections

The Chinese yuan extended its losses against the dollar on Monday after registering its fifth consecutive month of decline in May, hampered by seasonal foreign exchange demand. The currency has lost more than 2% against the dollar this year, under the pressure of its relatively low returns compared to other currencies and China's monetary policy divergence with other countries.