PN:Rupee in a range ahead of RBI policy; oil demand seen
The rupee traded around 54.54/55 levels versus its previous close of 54.4850/4950 on the back of some dollar demand from oil refiners.
Choppy domestic shares a day before the Reserve Bank of India's monetary policy review is also holding the USD/INR in a range, traders said. The BSE Sensex is currently trading down 0.2 per cent.
The RBI is expected to hold rates steady on Tuesday, while views for a cash reserve ratio cut are split, according to the latest Reuters poll.
Dealers now expect USD/INR to trade in a 54.45 to 54.65 range during the day.
