There was little change for India's Rupee on Monday on potential Dollar-selling by the Reserve Bank of India (RBI), which helped the currency to sidestep the decline in its Asian rivals.
At the time of writing, the Rupee stood at 83.1075 per Dollar compared to the close of 82.1025 on Friday. Whereas the Chinese Yuan, Indonesian Rupiah and Korean Won all fell between 0.3% and 0.4%.
India's central bank likely sold Dollars in the NDF (non-deliverable forward) and the OTC markets to stop the Rupee edging down towards its all-time low of 83.29 reached last October, Reuters news agency reports.
In recent sessions, USD/INR has remained within a range of 83.00 to 83.20, according to a note by SMC Global Research.
Breaking away from the 83 resistance indicates the Dollar's uptrend, the SMC report added.
Elsewhere, the Chinese Yuan declined to 7.3360 to the Dollar, not far away from the year-to-date low. So far this month, the currency has fallen more than 2.5%, impacted by concerns over China-US interest rate differentials and China's growth outlook.
On Monday, China reduced its one-year benchmark lending rate as authorities move to increase efforts to boost credit demand.
In August, the Rupee has fallen around 1%, whilst the Dollar index – measuring the currency against six rivals – is up 1.5%
The Dollar has received a boost from the rise in US yields. The 10-year US yield has soared on forecasts the economy's resilience will mean the Federal Reserve will keep rates higher for longer.
All eyes will be on Fed Chair Jerome Powell's speech at the Jackson Hole Economic Symposium this week for indications on the future path for interest rates.