Rupee likely to hold near 90, central bank support cushions weak flows

The Indian rupee is expected to remain around the 90-per-dollar mark, supported by central bank interventions despite underlying dollar demand. After a fifth consecutive decline, the rupee settled at 89.9750, with traders noting buying interest below 90. Limited cues from Asian currencies and a quiet dollar index are influencing the rupee's stability. Key indicators include a one-month non-deliverable forward at 90.35 and foreign investors selling a net $186.2 million in Indian shares on December 26.