The Indian rupee ended steady on Tuesday and failed to rise above the key 45.23 per dollar level despite robust foreign investment inflows, which dealers attributed to possible central bank intervention. The Indian unit closed at 45.2400/2475 per dollar, compared with Monday's 45.2375/2475.
"There seemed to have been intervention through the day, with the dollar bid at 45.23 and 45.24 rupees," said a trader at a state-run bank.
The annualised premium on the one-month dollar rose to 0.71 percent from 0.57 percent on Monday, while the premium on the six-month dollar rose to 0.41 percent from 0.37 percent the previous day.