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MUMBAI: Due to Chinese demonstrations against COVID limitations, demand for Asian currencies and stocks is projected to be lower on Monday, which would result in a worse opening for the Indian rupee against the US dollar. Early trading is expected to see the rupee trading at approximately 81.85 against the US dollar, down from 81.6850 the previous day. Following infrequent demonstrations against China's rigorous zero-COVID policy in key Chinese cities, the offshore yuan fell 0.6% to 7.24 to the dollar. The rupee might find "good" support at around the 81.90 levels after opening weaker, according to a trader at a Mumbai-based bank. The trader noted that the pair (USD/INR) had seen offers three times last week at the 81.85-81.90 levels. In addition, the dealer said that the oil prices should support the rupee. Brent crude prices dropped more than 2%, reaching their lowest point since January at about $82 per barrel. Oil prices have fallen by almost 14% this month, the most ...

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