Rupee eases on oil, outflow, RBI concerns

MUMBAI (Reuters) - The rupee gives up most of its early gains Monday weighed by dollar buying by oil companies, capital outflows from the stock market, and hints of central bank

intervention, dealers say.

At 12 p.m., the rupee at 39.675/685 per dollar, falling from the day's high of 39.58, but still stronger than Friday's finish of 39.71/72, its weakest since Oct. 23.

Dealers say some foreign funds may be repatriating profits before the end of the calender year, weighing on the local unit.