The rupee was trading at 59.36 versus its close of 59.29/30 on Tuesday tracking weakness in domestic equity markets in early trade and the absence of any other major triggers.
Traders expect the pair to trade in a broad range of 59.25 to 59.45 for the day.
Traders will continue to monitor foreign fund flows into the debt and equity markets for near-term direction, while consumer price inflation data due on Thursday will also be watched, though a large impact on the foreign exchange market is unlikely.
Asian currencies were trading mixed versus the dollar.
Copyright: Thomson Reuters 2014