Rupee little changed from previous close

Reuters Market Eye - The rupee trading little changed at 60.15/16 versus its previous close of 60.14/15 as dollar demand from importers getting adequately offset by selling from foreign banks.

Traders say a large state-run bank has been on the dollar buy side for most part of the day while foreign banks have been spotted selling the greenback.

Dealers speculate the dollar buying by the state-run bank is mainly for oil firms after the Reserve Bank of India asked oil companies to route their dollar purchases via a single bank to reduce intra-day market volatility.

The RBI asked state-run oil companies to buy dollars from a single bank, a source privy to the advice from the central bank told Reuters on Tuesday.

The market will now be looking towards the release of the minutes from the June 18-19 Fed policy meeting, but Chairman Bernanke's remarks at 4:10 p.m. EDT (2010 GMT) are seen as more widely anticipated.

(Reporting by Swati Bhat)