India rupee ends flat but notches fourth monthly decline on the trot

MUMBAI, Oct 31 (Reuters) - The Indian rupee ended unchanged on Tuesday after holding in a narrow range through the session, as buoyant U.S. dollar demand squared off against expectations the central bank will prevent further weakness in the local currency.

Losses in the rupee this month were limited because of likely intervention by the Reserve Bank of India (RBI), which has routinely stepped in to prevent a breach of the record low, traders said.Regional peers like the Thai baht and the Korean won outperformed the rupee in October.The Japanese yen declined over 1% to fall below the 150 mark against the greenback after the Bank of Japan slightly tweaked its bond yield control policy but was not as hawkish as some had expected.

The prevailing narrow range could break following the U.S. Federal Reserve's policy decision on Wednesday, but a strong directional move will depend on the amount of flexibility the RBI allows, according to Parmar.

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