Reuters Market Eye - Rupee falls for a second successive session, tracking regional stock losses. The pair is at 54.54/55 levels versus 54.43/44 close on Wednesday.
Dealers expect some consolidation in 54.38-54.65 band.
The pair has immediate resistance at 54.56, the March 20 high.
The yen held near one-month highs against the dollar early in Asia on Thursday, with investors adopting a cautious stance as they waited to see just how aggressive the Bank of Japan will be in tackling deflation.
(Reporting by Subhadip Sircar)