Rupee retreats slightly, snapping recent losses

Rupee trading at 55.996/02 compared to 56.16-17 in the previous close, en route to snap a four-day losing streak that saw the cross hit its lowest this month.

Some of the pullback, with a session high at 55.85, being attributed to expectations for another round of quantitative easing from the Federal Reserve.
However, month-end dollar demand from oil companies limiting further falls in USD/INR.
"There are no specific flows in the market as such, but broadly people are expecting more stimulus from the Fed," a senior dealer with a private bank said.