MUMBAI: The Indian rupee ended flat yesterday as a slump in local stocks was evened out by hopes the central bank would cut interest rates next month after data showed slowing consumer inflation.

The rupee gained a modest 0.5 percent for the week. The rupee ended at 54.52/53 per dollar, unchanged from its close on Wednesday. Earlier in the session it had risen to 54.34, a 1-week high.