Mumbai: The rupee weakened on Monday as a contraction in factory output and high retail inflation added to concerns about an economy already hurting under a record current account deficit.
The rupee fell to as much as 59.93 compared to its Friday close of 59.56/57. It was trading at 59.87/88 at 9:11 am.
The most traded 8.33 per cent 2026 bond was up 5 basis points at 7.72 per cent.
Economic gloom deepened with a surprise drop in industrial output, a fall in exports and higher retail inflation, according to data released after the close of trading on Friday.