Rupee in a range ahead of RBI policy; oil demand seen

Mon Dec 17, 2012 11:57am IST

Rupee notes of different denominations are seen in this picture illustration taken in Mumbai April 30, 2012. REUTERS/Vivek Prakash/Files

Rupee notes of different denominations are seen in this picture illustration taken in Mumbai April 30, 2012.

Credit: Reuters/Vivek Prakash/Files

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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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