Indian rupee closes little changed

MUMBAI: The Indian rupee ended little changed on Thursday after hovering in a tight range through much of the session with traders awaiting fresh cues for directional momentum.

The rupee ended at 83.1150 against the US dollar, barely changed from its previous close at 83.1225. The local unit posted a marginal weekly loss of 0.06%.

Indian markets are shut on Friday on account of a local holiday. The dollar index edged lower to 103.16 and most Asian currencies dipped, with the Indonesian rupiah leading losses down by 0.7%. The broad trend on the rupee seems to signal sideways momentum with a slight downward bias, Dilip Parmar, a foreign exchange research analyst at HDFC Securities, said.