Rupee in a range ahead of RBI policy; oil demand seen
Reuters Market Eye - The rupee is trading around 54.54/55 levels versus its previous close of 54.4850/4950 on the back of some dollar demand from oil refiners.
Traders say choppy domestic shares a day before the Reserve Bank of India's monetary policy review also holding the USD/INR in a range.
The BSE Sensex is currently trading down 0.2 percent.
The RBI expected to hold rates steady on Tuesday while views for a cash reserve ratio cut are split, the latest Reuters poll shows.
USD/INR seen holding in a 54.45 to 54.65 range during the day.
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Data released on Friday showing a slowdown in India's economy will put the Reserve Bank under renewed pressure to cut interest rates, while Prime Minister Narendra Modi takes his time over reforms needed for a revival. Full Article