The rupee was on a steadier footing on Monday, jumping 30 paise to 69.42 against the dollar.

Much of the upmove came on the back of selling of the American currency by banks and exporters amid gains in domestic equity markets.

The local currency on Friday advanced 48 paise to settle at 69.72 against the dollar ahead of the important non-farm payrolls number that was released later in the day. The US economy saw a job addition of 3,12,000 in December compared to 1,76,000 in the previous month.

On the other hand, average hourly earnings grew 0.4 per cent compared to growth of 0.2 per cent in the previous month, supporting the greenback on lower levels.

“Today, the USD-INR pair is expected to quote in the range of 69.20 and 70.05,” Motilal Oswal said in a report.

This week, on the domestic front, market participants will be keeping an eye on inflation and industrial production numbers. Expectation is that inflation in December could rise at a slower pace compared to the previous month.

Inflation in the recent past has been growing at a modest pace following lower global crude oil prices. A slower price rise could continue to support the rupee at lower levels.