Rupee falls to 55.335/345 versus previous close of 55.1250/1450, tracking weak domestic shares and boosted by dollar demand from oil companies.
Traders however say they expect resistance for the dollar around 55.35 levels, with the next target at 55.70.
The euro has seen limited gains after Ben Bernanke said the Federal Reserve is ready to support the U.S. economy if needed, but was not more specific.
Day two of Bernanke's U.S. Congress testimony comes later in the day.
Domestic shares trading down 0.3 percent, led by losses in auto shares.