The Indian rupee has experienced mixed movements recently. Initially, the rupee struggled due to upbeat US economic data boosting the dollar. However, it was underpinned by expected inflows, despite being countered by weak Asian peers. The rupee eventually closed higher, supported by gains in Asian foreign exchange markets and dollar sales by foreign banks. Nonetheless, the rupee remained nearly flat as dollar bids by oil companies countered the gains. The JPMorgan index also played a role in these fluctuations.