Ella 
The Indian rupee recovered on Monday amid a weaker U.S. dollar. The currency closed its worst week in more than two months on Friday, weighed down by month-end dollar demand from importers. However, the rupee’s losses may be limited as the Reserve Bank of India (RBI) is likely to intervene to weaken the local currency.
Market participants are awaiting the results of India’s general election, with votes to be counted on June 4. Analysts expect the rupee to rebound this week as exit polls suggest that Prime Minister Narendra Modi’s Bharatiya Janata Party will win a third term.
The final reading of India’s manufacturing purchasing managers’ index (PMI) for May will be released on Monday and is expected to remain unchanged from the initial estimate of 58.4.
The U.S. will release the ISM manufacturing purchasing managers’ index. A stronger-than-expected reading could dampen expectations of a rate cut by the Federal Reserve (Fed) this year and boost the dollar.
