Rupee ends little changed, focus turns to Fed policy decision

The Indian rupee closed nearly flat on Wednesday after facing pressure early in the session, which was countered by dollar sales by state-run banks and as traders awaited the U.S. Federal Reserve's monetary policy decision. While dollar demand related to month-end importer payments and the maturity of positions in the non-deliverable forwards market hurt the rupee in the first-half of the session, the currency was supported by dollar sales by state-run banks, traders said. Foreign investors have sold nearly $9 billion of local stocks and bonds, on a net basis, this month.