Indian Rupee Holds Steady Against Dollar Ahead of RBI Policy

The Indian rupee remained stable against the US dollar on Monday, closing near the 95 mark. Intervention by public sector banks through dollar sales helped prevent further depreciation. Investors are now cautiously awaiting the US non-farm payroll data and the Reserve Bank of India’s monetary policy announcement. Most analysts expect the RBI to keep interest rates unchanged to manage inflation. The currency market is likely to remain range-bound until these major economic reports provide more clarity on global and domestic monetary paths.
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