Indian rupee closes flat at 95.37 as markets await RBI
Business
The rupee barely moved on Tuesday, closing at 95.37 against the US dollar, almost the same as yesterday.
It traded in a tight range, thanks to steady demand from importers and some foreign investor inflows.
Market caution ahead of the monetary policy announcement also influenced its movement.
Brent crude $80-$83 kept rupee steady
Brent crude prices were hovering between $80 and $83 a barrel.
This helped keep the rupee from making any big moves.
RBI policy meeting on October 4
The RBI's policy meeting is set for October 4 and could shape where the rupee heads next.
With inflation still high and global markets uncertain, everyone's watching to see if the central bank changes interest rates or sticks with the monetary policy announcement.