Reuters Market Eye - The rupee is hovering near day's high on large dollar selling by a clutch of foreign banks, dealers say.
The pair is at 54.13/14 versus its previous close of 54.175/185, after earlier rising to as high as 54.36.
Dealers say inflows may be related to corporate deal flows related to Qatar's purchase of a 5 percent stake in Indian telecoms firm Bharti Airtel Ltd for $1.26 billion.
Dealers also mindful of flows related to DLF's plan to sell 81 million shares.
Foreign funds have bought $680 million of Indian stocks in the three sessions to May 3, regulatory data show.
(Reporting by Subhadip Sircar)