Rupee steady at 82.35 vs dollar — here's what analysts say

"As per market reports, the banker’s bank- RBI seems busy managing the NDF market chaos as recently near term forward premiums gap between onshore and NDF was seen rising and any intervention in the domestic market was not translating fully over rupee," said Amit Pabari, Managing Director at CR Forex.

"It will be interesting to see how RBI plays its card as rupee is just away by 30 paise from an all-time low. Surely, pressure mounts over rupee to test another low and move towards 83.50-84 once it breaches 82.10-82.90 consolidation phase. On the flip side, appreciation seems limited upto 82.10 to maximum 81.80 levels," Pabari said.

Indian equity benchmarks Sensex and Nifty50 opened lower on Monday dragged by losses in oil & gas, metal and financial shares.