India rupee erases gains after rising to 1-wk high

MUMBAI, June 29 (Reuters) - The Indian rupee erased gains after rising to its highest in more than a week on Monday, on customary month-end dollar demand from refiners.

* At 2:10 p.m., the partially convertible rupee was at 48.14/15 per dollar, off an intraday peak of 47.98, its highest since June 17, and slightly weaker than Friday's close of 48.10/11.

* Oil CLc1, India's biggest import, rose above $69 a barrel on Monday. Oil refiners step up dollar purchases towards the end of every month to meet import commitments.

* The rupee had strengthened earlier, tracking higher local equities on Monday. [.BO] (Reporting by Anurag Joshi; Editing by Sunil Nair)