MUMBAI, Dec 5 Reuters The Indian rupee was nearly unchanged on Thursday and held in a narrow range, with traders awaiting the central bank39;s decision on whether to cut interest rates to support slowing growth.

The rupee , which has moved in a less than three paisa range so far during the session, was last quoted at 84.7350 to the U.S. dollar, barely changed from Wednesday.

Other Asian currencies were up between 0.1 and 0.4 on the day, helped by growing expectations that the Federal Reserve will lower rates this month.

The rupee, which hit an alltime low of 84.7575 on Tuesday, has been struggling amid a slowdown in India39;s growth, as seen in the JulySeptember quarter, and uncertainty over the impact of U.S. Presidentelect Donald Trump39;s policies on emerging market currencies.

In light of these challenges, Anil Bhansali, managing director at advisory firm Finrex Treasury Advisors, recommends that the firm39;s exporter clients hold on to their hedges, while importers take advantage of dips on the dollarrupee pair.

IMPORTANT EVENTS LINED UP

Friday will likely be a key day to gauge the rupee39;s nearterm direction. The Reserve Bank of India RBI will announce its decision on interest rates, followed by the U.S. November monthly jobs report.

A majority of economists expect the RBI to keep rates on hold amid high inflation and weakness in the rupee. A handful, which includes Nomura, reckon that recent growth considerations will prompt the central bank to cut rates….