The rupee is trading at 60.28/29 versus its close of 60.23/24 on Tuesday as weakness in the domestic stock markets aids sentiment for the dollar.
Exporters, however, seen selling on upticks preventing a very sharp rise in the pair. The pair is seen holding in a 60.20 to 60.40 range in the rest of the session.
Traders are also cautious after data showed overseas investors sold Indian shares worth of Rs 21.6 crore ($3.59 million) on Tuesday -- the second straight session of outflows.
The BSE Sensex is trading down 0.6% as continued selling by offshore investors and higher-than-expected inflation data increases caution in the midst of the five-week long election process.
The better-than-expected Chinese first-quarter growth data, however, is helping Asian units as it eases concerns of a sharp slowdown in the world's second-largest economy.
