• The Indian Rupee gains ground amid the weaker US Dollar in Monday’s early Asian session.
• Indian bonds were included in the JPMorgan Emerging Market Debt Index, boosting India’s foreign inflows and the INR. 
• India’s HSBC Manufacturing PMI and US ISM Manufacturing reports will be in the spotlight on Monday. 

The Indian Rupee (INR) strengthens on Monday on the softer US Dollar (USD). The foreign inflows by the inclusion of India's bonds into the JPMorgan emerging market debt index are expected to trigger billions of dollars into the world's fifth-largest economy, boosting the INR. Furthermore, the softer US Personal Consumption Expenditures (PCE) Price Index for May, which has its lowest annual rate in more than three years, weighs on the Greenback and acts as a headwind against the pair. 

Meanwhile, further gains in crude oil prices might exert some selling pressure on the pair, as India is the world’s third-largest oil consumer after the United States (US) and China. On Monday, investors will focus on India’s HSBC Manufacturing PMI, which is estimated to improve from 57.5 to 58.5. Any signs of India’s weakness could exert some selling pressure on the Indian Rupee. On the US docket, ISM Manufacturing for June will be published.