The Indian rupee erased some of its morning losses but trading lower by 7 paise at 69.22 per dollar versus Friday's close 69.15.
Commerce Secretary Anup Wadhawan recently said that Indian and European and Oceania countries should put more effort to push bilateral trade.
Retail inflation rose at a faster pace than anticipated in February. It picked up to 2.57 percent, after easing to 1.97 percent in January.
The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) will meet for the new fiscal's first bi-monthly monetary policy today.
KOLKATA: Reserve Bank of India has made life a little bit easier for banks by tweaking the bad loan divergence rule. Banks’ disclosure of divergence practice mandated by RBI aims at improving transparency in asset classification and preventing under-reporting of bad loans.
The RBI is likely to cut its key lending rate by another 25 basis points (bps) in backdrop of low inflation and slowing industrial production.