Indian rupee to remain range-bound in near-term, inch up in a year- Reuters poll

The Indian rupee will trade in a narrow range against the U.S. dollar over coming months and gain slightly in a year as the Reserve Bank of India continues to intervene in currency markets, according to a Reuters poll of strategists. Unlike most emerging market currencies, the rupee has showed remarkable stability against the dollar, thanks to the RBI's hefty foreign exchange reserves of over $619 billion, which it has used to absorb excess volatility.