USDINR trading range for the day is 70.42-71.2.
Rupee traded in range on increased demand for the greenback from oil importers as Brent crude oil prices trading below $60 a barrel.
The greenback remained subdued against major peers tracking a fall in US Treasury yields on expectation of a fewer rate hikes by the Federal Reserve.
The Reserve Bank of India would be ready to take policy action if upside risks to inflation do not materialise, Governor Urjit Patel said.
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