Rupee to hold in narrow range on flows pressure, RBI barrier
The Indian rupee is expected to stick to a narrow band on Thursday, with unfavourable flows offset by the central bank's unwillingness to allow a decline past the 88.80 level. The 1-month non-deliverable forward pointed to the rupee opening little changed to the US dollar from 88.63 on Wednesday. The RBI has been repeatedly stepping in to stop any break past that level.