<h1>Rupee near flat at 89.23 against the dollar as equities gains and lower oil offset dollar strength.</h1> The rupee closed nearly flat at 89.23 per US dollar after trading in a narrow range of 89.17-89.28, with equities strength and lower crude offsetting dollar strength. Foreign fund outflows and geopolitical concerns dampened risk appetite, while analyst commentary cited importer demand as a cap on upside and rising odds of a US rate cut as supportive, projecting USD INR to trade around Rs 89-89.50.