The Indian rupee was trading marginally higher on Tuesday after a pullback in the U.S. dollar, while traders awaited the Reserve Bank of India's policy decision.
The rupee quoted at 82.6125 to the U.S. dollar by 11:08 a.m. IST, up from 82.67 in the previous session.
"USD/INR lacks a clear direction and exhibits minimal discernible patterns," said Anindya Banerjee, head of research for foreign exchange and interest rates at Kotak Securities. The RBI rate decision could "lend some volatility," but "there was no way" it will change the current status quo on USD/INR, a spot trader at a private bank said.
The dollar was left struggling against its major peers following data that indicated that the Federal Reserve rate hike cycle was impacting service activity.
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