New Delhi, Nov. 11 -- Movement in the dollar and progress in US-India trade negotiations are likely to drive the direction of the Indian rupee in the coming days, according to a report by Bank of Baroda.

The report noted that the rupee remained steady in October and early November, which comes amid a combination of RBI intervention, stronger dollar trends, sluggish foreign inflows, and higher importer demand for the greenback.

"RBI's intervention in the forex market was prevalent to prevent the domestic currency from sliding to a record low," the report said, adding that this marks a shift from the central bank's earlier stance of allowing a freer movement in the currency.

"This trend is likely to persist in the coming days well," the ...