Reuters Market Eye - The rupee falls and is trading at 61.55/57 per dollar, off the 61.05 highs seen early session. The unit closed at 61.655/665 per dollar on Tuesday.
USD buying for defence by state-run banks and demand from private oil company keeping the pair bid, traders say.
Rumours of some forex demand from state-run refiners returning to the market. But some bank dealers who deal with such firms say have yet to see any demand.
The RBI said last week that its oil swap window remained operational and any tapering will be calibrated.
Local shares also extend losses, down 1 percent.
Dollar index trading up 0.05 percent.
(Reporting by Subhadip Sircar)
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