MUMBAI The rupee fell early on Monday as risk aversion took a front seat after sluggish U.S. jobs data last week reignited worries about the health of global economy.
At 9:03 a.m. (0333 GMT), the rupee was at 51.37 to the dollar, weaker than Wednesday's close of 51.055/065. The market was shut on Thursday and Friday for local holidays.
U.S. payrolls rose far less than expected in March, even as the unemployment rate fell to a three-year low of 8.2 percent. Employers added 120,000 jobs last month, the smallest increase since October.
(Reporting by Aditya Phatak; Editing by Ranjit Gangadharan)
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With the Nifty breaching 8,500, sentiments are again bullish. But markets have been in the 8,200-8,600 range for some time and stocks across the board do not give the required confidence except for the liquidity factor. Many frontline stocks are not participating on the upside and the core sector is in a downtrend, writes Ambareesh Baliga. Column