Mumbai Nov 24 PTI The Indian rupee recovered its initial losses and settled 2 paise up at 7440 against the greenback on Wednesday as exporters dollar sales helped offset elevated crude oil prices Investors also awaited the minutes of the latest Federal Reserve meeting forex traders said At the interbank forex market the local unit opened on a weak note at 7453 against the US dollar and witnessed an intra-day high of 7431 and a low of 7454 Snapping its three-day losing run the domestic currency finally ended at 7440 registering a gain of just 2 paise over its previous close of 7442 According to Emkay Global Financial Services the forex market is stuck in a lacklustre trading range with focus being on Fed minutes and a slew of US economic data Only an upbeat data with marginally hawkish Federal Open Market Committee FOMC minutes will bolster the case that the US consumer is in good shape and increase bets for an earlier than expected rate hike appreciating the USD-INR spot it said The dollar index which gauges the greenbacks strength against a basket of six currencies advanced 022 per cent to 9670 Brent crude futures the global oil benchmark fell 024 per cent to USD 8211 per barrel On the domestic equity market front the BSE Sensex ended 32334 points or 055 per cent lower at 5834099 while the broader NSE Nifty fell 8630 points or 05 per cent to 1741505 Foreign institutional investors were net sellers in the capital market on Tuesday as they offloaded shares worth Rs 447706 crore as per exchange data The Indian Rupee ended flat against the US dollar in a choppy trading session as exporters dollar sales helped the local unit offset strong crude oil prices and stronger dollar said Sriram Iyer Senior Research Analyst at Reliance Securities Meanwhile Asian currencies were trading flat-to-weaker tracking the strength of the dollar index Indian government bond yields ended marginally higher on Wednesday The benchmark 610 per cent bond ended at 637 per cent compared to 636 per cent in the previous session Iyer said Investors will be awaiting data from the US side of things including the initial jobless claims US GDP the University of Michigans consumer sentiment index and probably the most important one of them all the PCE price index the most tracked indicator for inflation he added According to Anindya Banerjee DVP Currency Derivatives and Interest Rate Derivatives at Kotak Securities strong corporate inflows were noted and that led to a mild appreciation in the rupee Indian Rupee remains one of the strongest currencies in the world over the month of November thanks to robust IPO flows corporate flows and carry trading interest We expect USD-INR to trade within a range of 7420 and 7460 over the near term Banerjee said PTI DRR ABM ABM