The Indian rupee traded in a narrow band against the US dollar as mixed global signals kept currency traders cautious. Dollar movement, crude oil prices and foreign fund flows remained key drivers for the domestic unit.
Forex dealers indicated that RBI’s presence and stable capital flows are helping limit sharp volatility in the currency. However, external macro developments continue to influence near-term direction.
The rupee is expected to remain range-bound in the short term unless there is a sharp move in global currencies or commodity prices.
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