Indian rupee ends flat

MUMBAI: The Indian rupee closed little changed against the US dollar on Tuesday, as strong demand for dollars from oil companies and other importers prompted the local unit to surrender earlier gains.

The rupee closed at 82.36 per dollar, compared with 82.3500 in the previous session.

The local unit hit a one-and-half-week high of 82.0350 earlier in the session, before giving up the gains due to the dollar demand from oil refiners and other importers looking to hedge near-term payments, traders said.

The rupee has been relatively stable in recent sessions, after the volatility that took it to a record low of 82.6825 on Monday last week.