USD/INR closed at 73.44 against its open at 73.35. Dollar ended little changed Monday as buying by oil importers for their month-end dollar payments got offset by overseas funds inflow into local stocks.
Brent crude oil price inched higher towards $80 a barrel ahead of the US sanctions against Iran oil export which may cause supply disruption although Saudi Arabia assured to bridge any gap in production.
Local stocks opened higher on local fund buying amid positive global cues as US Federal Reserve official last week tried to ease concerns on Wall Street about tight liquidity. Cues from the global currency markets would also be under focus.
Dollar index, which weighs greenback against a basket six major currencies, traded at 95.79 Monday compared to 96.46 at close of Indian market on Friday.
The greenback remained subdued against its major peers tracking the US treasury yields as investors moved to safe-haven currencies.
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