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Rupee likely to remain steady against US dollar amid mixed cues; USDINR pair to trade sideways in this range

The Indian rupee is expected to trade steady on Tuesday against amid recovery in regional fears, cautious market sentiments, falling crude prices and strong dollar. USDINR spot price is expected to trade in a range of Rs 79.20 to Rs 80.80 in next couple of sessions. In the previous session, spot USDINR opened at a life low of 80.07 and gained to 80.13 before settling at 79.97 on probable central bank interventions and pullback in the dollar index. The RBI’s dollar selling led to the rupee to recover past the 80 mark and end the day with only a small …

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