The rupee is trading at 54.87/88 versus its previous close of 54.7150/72.50 as the risk rally in global market stalls. Traders now focussing on central bank meetings in Japan, Britain and the euro zone for signs of further monetary stimulus.
The pair may hold in a range of 54.75 to 55.00 for the initial part of the day. Dollar demand from oil importers is likely to boost the pair. Most Asian currencies trading stronger compared to the dollar.
Local shares trading are trading flat.
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