The Indian rupee and government bond yields are expected to continue to hold their narrow trading ranges this week, with investors bracing for a jump in volatility due to multiple economic data releases at home and in other major countries.
The rupee ended unchanged at 81.6850 per U.S. dollar last week. It was trapped in a narrow 81.44-81.9150 range despite a weaker greenback, due to huge cash dollar demand and the Reserve Bank of India's presence amid equity inflows, traders said.
The bias is towards the rupee appreciating, but dollar buying could once again limit gains, and the downside risk will come from surprises in economic data reports, the trader added.
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