Mumbai, October 11: The Indian rupee pared early gains to end the day flat at 44.42/43 against the US dollar as demand for the American currency picked up in late trading.
At the Interbank Foreign Exchange (Forex) market, the local currency resumed at 44.18/19, higher than its last close of 44.42/43 a dollar.
Forex dealers attributed initial rise to strong opening in equities and sustained heavy capital inflows.
The Indian benchmark Sensex was up by over 210 points, in early trade before concluding up by nearly 90 points.
Good dollar demand from some banks and importers weighed against the rupee sentiment and the local currency fell to close the day at its overnight level of 44.42/43, dealer said.
They added that signs of FII inflows continuing helped avoid a bigger fall in rupee’s value against the dollar.
FIIs have picked up shares worth USD 21.
–Agencies