The rupee on Friday closed flat at 49.27/28 against the American currency after dollar demand from importers, mainly oil refiners, pulled down the local currency from its intra-day high levels.
Sustained capital inflows too aided the sentiment, a Forex dealer said, adding that dollar demand, tracking oil movement in New York, refiners went up.
At the Interbank Foreign Exchange market (Forex), the domestic unit touched a high of 49.1550 intra-day amid a smart rally in local stocks. Soon, it fell to a low of 49.35 on strong demand for the U.S. currency.
A later dollar selling by exporters on hopes of a further fall in its value in global markets improved the rupee sentiment towards the close of trade.
Dollar index was trading nearly flat with negative bias on increased hopes for a deal on a Greek bailout next week.
The dollar index of six major rivals was up by nearly a mere 0.05 per cent in European market.
Keywords: Rupee-dollar trade