Reuters Market Eye - The rupee rises further to hit a more than one-week low of 54.3850 and currently trading at 54.47/48 versus its previous close of 54.56/57.
Gains in the domestic share market helping the rupee.
Traders also expect dollar inflows towards the stake-sale in a government firm. The Indian government will sell a 12.5 percent stake in state-run Rashtriya Chemicals and Fertilizers through an auction of shares to raise about $57 million.
However, 54.40 is likely to be a decent resistance for the pair during the session, traders say.
(Reporting by Swati Bhat)