Reuters Market Eye - Rupee trims gains to trade at 55.20/21 versus previous close of 55.31/32 and off the day's high of 54.81 as demand from oil firms boost the dollar.
The BSE Sensex gains 0.4 percent, after earlier rising as much as 0.8 percent.
However, gains in the euro pressure USD/INR.
Traders expect strong resistance for USD/INR around the 55.30-55.37 range during the session.