Reuters Market Eye - The rupee is trading at 58.57/58 versus its Friday's close of 58.52/53, off the session high of 58.41 as the Reserve Bank of India (RBI) steps up dollar purchases to limit sharp gains in the local currency.
Traders say the RBI seen buying dollars in the forwards as well as the spot market, though buying more aggressive in the forwards.
Gains in the domestic share market ahead of prime minister designate Narendra Modi's swearing in ceremony later in the day, limiting a very sharp upside to the pair.
The rupee is seen holding in a 58.40 to 58.70 range during the rest of the session.
Investors are keenly awaiting the appointment of the finance minister.
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The BSE Sensex is trading up 1.6 percent.
(Reporting by Swati Bhat)
