Reuters Market Eye - Rupee trades at 54.45/46 versus its close of 54.6250/6350 as global risk currencies such as the euro are largely range-bound against the dollar after Monday's commodity-sparked plunges.
Strong gains in share prices also support the rupee. Lower commodity prices would reduce the pressure on the country's record current account deficit.
The pair is seen moving in a 54.38 to 54.62 range during the session.
Cash gold and U.S. gold futures plunged to their weakest in over two years, pulling silver lower and dragging Tokyo gold futures down almost 10 percent.
Brent crude also sank below $100 a barrel for the first time in nine months on Tuesday amid a wider commodities rout.
(Reporting by Swati Bhat)