Rupee largely steady after early gains

Reuters Market Eye - The rupee is seen stuck in a tight range after an early gain, currently trading at 60.80/81 versus its Friday's close of 61.10/11.

Traders say good dollar selling by foreign banks and a large state-run bank hurting the pair demand from importers, particularly oil firms limiting a sharper fall.

U.S. employers slowed their pace of hiring in July to lower than expected although the jobless rate fell, a pair of mixed signals that could make the Federal Reserve more cautious over scaling back its bond-buying programme.

Traders expect the pair to hold in a 60.60 to 61.10 range during the rest of the session.

 

(Reporting by Swati Bhat)