Rupee in Monday's (May 18, 2020) trade opened weak at 75.93, down by 36 paise versus its previous closing of 75.57 per US dollar.
Traders in the bond market will be eyeing RBI's plans of converting Rs. 30,000 crore short-term bonds into long-maturity debt.
India as per Goldman Sachs is set to experience the worst recession on account of the economic fall-out due to Covid 19.
Oil prices on Monday rose to levels past $30 per barrel for the first time since March on output cuts in the US and elsewhere and a pick-up in demand as there is a gradual relaxation in coronavirus-led movement restrictions around the globe.
Brent crude futures gained 96 cents to $33.46 per barrel, while U.S. crude rose 98 cents to $30.41.
Meanwhile, as lockdown continues in India, headline indices continue to trade with losses, with Nifty below 9000 points.