Mumbai: The rupee washed out initial gains against the Amemrican currency on fag-end dollar demand from importers and ended steady at 63.91 per dollar at the Interbank Foreign Exchange (Forex) market.
The dollar was almost unchanged against the yen and the euro during Asian trade on Wednesday with investors avoding taking strong positions ahead of the outcome from the Federal Open Market Committee meeting.
The rupee resumed higher at 63.87 per dollar as against on Tuesday's closing level of 63.91 per dollar and firmed up further to 63.8225 per dollar on initial selling of dollars by exporters.
However, it washed out initial gains and dropped to 63.94 per dollar on fag-end dollar demand from importers before concluding at 63.91 per dollar, showing no change from on Tuesday's close.
The domestic unit moved in a range of 63.8225 and 63.94 per dollar during the day.
Oil prices were down in Asia on Wednesday as investors waited for the results of a US central bank meeting and a closely- watched report on crude inventories in the world's biggest economy.
Worries over the Chinese economy after a rout in the country's stock market and a global crude oversupply were also keeping investors at bay, analysts said.
Meanwhile, the Indian benchmark sensex recovered by 104.20 points or 0.38 per cent to close at 27,563.43.
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