The rupee extended its losses on Monday’s trade and hit a two-month low against US dollar after oil prices surged following a spike in tensions between the US and Iran. The local unit fell 25 paise to 72.05 against the US Dollar, it opened lower at 72.03, then lost further ground to touch a low of 72.09/$. The rupee on Friday ended at 71.80 against the dollar.
The yield on the 10-year government bond was at 6.535% compared with its previous close of 6.515%.
Meanwhile, gold prices in India surged to new highs, led by a rally in global rates amid US-Iran tensions. On MCX, February gold futures surged 2.3% or Rs918 to a record high of Rs41,030 per 10 gram.
Indian benchmark indices made a weak start on Monday with the Sensex trading over 315 points lower at 41,149, and the Nifty falling 93 points to 12,133.
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