Indian Rupee remains steady as central bank maintains firm support level
The rupee is expected to open flat today as the Reserve Bank of India intervenes to maintain a narrow range. Weakness in Asian currencies is being offset by consistent dollar sales at key levels.
The Reserve Bank of India has been intervening in the foreign exchange market by offering U.S. dollar units around the 90.70–90.80 zone, a move that has kept the Indian rupee in a narrow range and constrained upside in the dollar/rupee pair. This intervention, which takes place on the interbank order-matching system, is directly shaping near-term exchange-rate levels and market incentives.
The central bank has demonstrated a sustained pattern of intervention, showing similar offers over the past three sessions. This consistent activity has altered market behaviour at the open and reduced the incentive for participants to push the pair toward the 91 level. The ongoing nature of these operations reflects the central bank's active role in managing the currency's trajectory in India 
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