MUMBAI (Reuters) - The Indian rupee weakened on Monday, hovering near a record low hit last week, as worries about China’s economic and financial stability hit global risk assets, while caution prevailed ahead of current account deficit data due this week.
India is due to report January-March current account deficit data on Friday. The country’s deficit has been a key source of stress in the rupee.
The rupee was trading at 59.65/67 to the dollar at 0344 GMT (11.44 p.m. EDT Sunday), compared to its close of 59.27/28 on Friday. It had hit a record low of 59.9850 on Thursday.
Reporting by Subhadip Sircar; Editing by Rafael Nam