Rupee flat, wedged between month-end dollar bids and likely RBI intervention

The Indian rupee held steady against the US dollar. RBI intervention likely supported the currency. Importers and foreign banks sought dollars. The rupee traded near the 84.50 level. Asian currencies saw mixed performance. The US dollar index recovered slightly. Forward premiums for dollar-rupee rose. US bond yields declined. The RBI is expected to hold interest rates next week.