Rupee expected to remain range-bound as some banks avoided selling dollars on the view that Reserve Bank of India may mop-up dollars through state-owned banks Indian unit stayed steady as dollar supplies from some exporters matched demand from oil companies.

TECHNICAL FOR THE DAY

Rupee is expected to trade in the range of 39.85-40.05 levels. With good support seen at 39.80 levels and key resistance holds at 40.10 levels. Currency is trading on the fast moving averages so only a crossovers can give confirmation on the trend. Stochastic are pointing towards the uptrend to continue for the day.