Rupee gains on debt related dollar inflows

The rupee is trading at 60.54/55 versus Tuesday's close of 60.6750/6850.

Traders say a large foreign bank spotted selling the greenback likely for investments in the debt market.

The benchmark 10-year bond yield down 4 basis points on day at 8.49%.

A substantial breach of 60.50 levels can take the pair to 60.20, say dealers.

Local shares to be watched for cues on fund flows. Nifty down 0.23%.