Rupee rises on higher shares, steady euro

The absence of any large dollar demand from oil companies also pressures USD/INR.

Traders expect the pair to trade in a broad range of 55.45 to 55.75 during the day.

The BSE Sensex gains 0.4%, tracking higher Asian shares on continued hopes the ECB will take action to lower borrowing costs.

The euro holds steady but appears increasingly vulnerable to a reversal amid doubts whether policymakers can agree a viable plan of action by next month to take some of the pressure off debt-stricken euro zone countries.