Rupee ends nearly flat after RBI prevents record low; US Fed, CPI in focus 

On Wednesday, the Indian rupee remained nearly flat, closing at 83.5450 against the U.S. dollar, slightly up from its previous close of 83.5650. Despite pressure from dollar demand by local oil companies and other importers, likely intervention from the Reserve Bank of India helped prevent the currency from falling to its all-time low of 83.5750.