New Delhi, Oct. 4 -- The Indian rupee is expected to trade sideways in October in a range of 95.30-96.80, as robust forex reserves and trade agreements provide support, while rising global yields and foreign portfolio investor outflows weigh on the currency as per a report by Union Bank of India.

The Indian rupee remained volatile with a slight depreciation bias in September. At the same time, strong inflows under the Reserve Bank of India's (RBI) Foreign Currency Non-Resident (Bank) FCNR(B) deposit scheme pushed foreign exchange reserves to an all-time high of USD 785.71 billion, helping the currency strengthen to 94.26 against the dollar in the first week.

"However, subsequent strength in Dollar Index due to Fed raising rates, oil pri...