The Indian rupee closed weaker on Thursday after oil prices rose and domestic equities reversed, erasing early gains driven by a pickup in foreign portfolio inflows, while traders also awaited India's inflation data due later in ?the day. Foreign portfolio inflows inject dollar supply into the rupee market, aiding the currency. A pickup in flows helped boost the rupee to a peak of 93.62 in early trading — its strongest level since April. The currency eventually pared gains as oil prices turned higher and local stocks gave up intraday gains to trade flat. Strong dollar bids from a state-run lender also weighed on the rupee in afternoon trade, while a clutch of other public sector banks were seen offering dollars near the 94 mark. Elevated oil prices threaten to slow growth and lift inflation in India. Traders will pay close attention to the October consumer inflation data due at 4 p.m. IST on Thursday. Higher oil prices and a weak monsoon have contributed to cost ?pressures in India, prompting markets to price in nearly 100 basis points of policy rate hikes by the RBI over the next 12 months. Economists polled by Reuters expect the data to show that headline CPI rose 5.93% last month, nearing the upper limit of the Reserve Bank of India's inflation tolerance band. The pound was little changed against the dollar on Thursday, after UK economic growth data matched expectations and markets awaited comments from a key Federal Reserve policymaker. Sterling was down 0.06% at $1.3271, ?but edged up to 83.57 pence per euro , near May 2025 highs. The dollar, meanwhile, climbed to a 19-month high against a basket of major currencies . Official data showed Britain's gross domestic product grew 0.7% in the third quarter, in line with expectations and the fastest pace in two and a half years. Oil ?prices rose on Thursday by more than $1 a barrel, as continued disruptions to shipping through the Strait of Hormuz and broader geopolitical tensions offset pressure from rising crude output that had sent prices lower in early trade. Brent futures were up $1.2 or 1.3% a barrel at $93.96 at 12:08 p.m. ET or 1508 GMT. US West Texas Intermediate crude was up 53 cents or 0.6% at $87.06. www.eforexindia.com......