MUMBAI, April 30 Reuters The Indian rupee will open broadly unchanged on Tuesday amid likely dollar demand and expectations that the central bank will not allow the currency to hit a new alltime low.

Nondeliverable forwards indicate the rupee will open nearly flat to the U.S. dollar from 83.47 in the previous session.

The local currency reached a low of 83.50 on Monday amid possible outflows and dollar buying by importers.

Yesterday39;s move was surprising and does lend a bit of upward bias to USDINR, an FX trader said. However, we have seen several times in recent past that momentum means little when you have Reserve Bank of India RBI around.

The RBI will in all likelihood not want the rupee to slip below the alltime low of 83.5750, a trader at a different bank said.

For today, you keep one eye on yen and yuan and the other on RBI.

The Japanese yen was down to 156.80 in Asia following a highly volatile session on Monday. The currency hit a 34year low of 160.245 on Monday, prompting a yenbuying intervention by Japanese authorities. The yuan had recovered alongside the yen.

Japanese authorities haven39;t confirmed that they had stepped into the currency market in support of the yen.

The choppy moves in the yen come before the Federal Reserve39;s policy decision on Wednesday. The U.S. central bank is widely expected to keep the policy rate unchanged amid high inflation and robust growth.

Expectations over the U.S. interest rate path have changed considerably….