Indian rupee seen opening little changed against US dollar; may fall later in the day

Aug 05 2014, 08:53 IST
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SummaryIndian rupee, which ended at 60.93/94 on Monday, is seen opening little changed.

Indian rupee, which ended at 60.93/94 on Monday, is seen opening little changed.

Traders expect the pair to fall later, tracking the drop in the dollar versus other Asian units.

The market is likely to remain choppy ahead of the central bank's monetary policy review decision due at 11 am (0530 GMT).

RBI is expected to keep rates steady while adopting tougher rhetoric on inflation at its policy review due to growing concerns that disappointing monsoon rains will lead to a surge in food prices.

The pair seen moving in a 60.75 to 60.95 range until the policy review.

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