- Indian rupee tumbles against US dollar to over 2-month low, RBI policy review meet in focusIndian rupee drops 44 paise to 10-week closing low of 63.10 vs US dollarIndian rupee against US dollar: Surprise can only be positive for riskRBI monetary policy review: Raghuram Rajan unlikely to surprise on rate front this time around
US dollar vs Indian rupee at 63.08/09 versus Monday's close of 63.10/11 as investors cautious ahead of the RBI's monetary policy review due at 0530 GMT where it is widely expected to hold rates steady.
RBI Governor Raghuram Rajan's outlook on the future rate trajectory and his comments on the monetary policy committee report will be keenly watched. Any hawkish outlook may lead to a stock selloff, pressuring INR, traders say.
The pair is seen holding in a 62.80 to 63.30 range until the policy review outcome.
Domestic shares up 0.1 percent in preopen trade.
The dollar regained a firmer footing against the yen on Tuesday, as expectations the US Federal Reserve will scale back its stimulus further pulled the US currency off a seven-week low against its Japanese counterpart.