The rupee on Thursday ended almost flat at 72.59 to the US dollar on Thursday after initial strong gains were erased by fag-end dollar demand from importers despite Government measures to stem currency volatility.
Steady capital outflows against the backdrop of tumbling local equities, ongoing global trade war concerns and surging oil prices kept forex sentiment under stress. The Indian unit seesawed its way through out the trade, having initially opened strong reacting to overnight Government decision to raise import duties on select items to check rupee slide. Despite the initial bounce, the home unit appears to struggle as the US dollar remained broadly firm.