The rupee, which ended at 62.125/135 on Friday, is seen flattish on Monday in cautious trading ahead of mid-week US Federal Reserve meeting and Reserve Bank of India monetary policy.
The Fed meeting could finally indicate when it will begin scaling back its monetary stimulus, dealers said. Dealers are awaiting wholesale price-based inflation data due for release at 0600 GMT for cementing views on the likely outcome of the central bank's monetary policy review on Wednesday.
Last week, retail inflation spiked to its highest on record, raising expectations for another rate hike by the central bank and adding to the woes of the embattled government.
Most Asian currencies are trading stronger compared with the dollar. The pair is seen trading in a thin band of 61.80 to 62.50 during the day.
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