Reuters Market Eye - The rupee is still up but pair keeping tight range amid thin volumes as most state-run bank dealers are not trading.
The pair is at 54.13/14, after falling to 53.95, versus its last close of 54.185/195.
India market regulator to auction $11.3 billion debt limits for foreigners on Wednesday, which will include $10 billion of new limits.
State-run bank employees have joined two-day national strike. Most state-run banks not trading with dealing room attendance thin, several dealers said.
Pair has support at 54.04 with the next major support at 53.80-85, which is unlikely to be breached in the session. Resistance is at 54.40-50 with slightly offered tone as the stock market is showing better performance.
(Reporting by Subhadip Sircar)