RBI stems rupee rise

The rupee on Thursday ended barely changed at 39.71/ 72 against the dollar as it lost its early gains amidst Reserve Bank of India RBI intervention, exporters8217; dollar sales and consistent capital inflows. The Indian currency moved in a wide range of 39.62 and 39.90 after resuming firm at 39.66/ 68 from Wednesday8217;s close of 39.70/ 71 per dollar. Attributing the initial surge in the rupee to unabated FII inflows into equity markets, forex dealers said it ran out of steam after the central bank intervened in a bid to cap the Indian unit8217;s continued surge.