The Indian rupee remained steady against the US dollar amidst election result concerns and local oil companies’ dollar demand. It traded at 83.4850, close to its previous close. Analysts predict minimal rupee movement due to Reserve Bank of India interventions. Foreign investors withdrew $2 billion from Indian equities in May, impacting market sentiment. While benchmarks Sensex and Nifty recovered slightly, uncertainty looms over the election outcome. MUFG Bank noted potential INR FX volatility based on election results. Meanwhile, the dollar index declined, and US bond yields dipped, signaling market softness.