Reuters Market Eye - The rupee is trading at 62.29/30 versus its prior close of 62.20/21, but off the session low of 62.45 as custodian banks sell the greenback.
Foreign exchange and debt markets were closed on Wednesday for a holiday causing equity related inflows to hit the market on Thursday.
The Sensex is trading down 0.5 percent after four sessions of gains.
Traders expect the pair to move in a 62.20 to 62.50 range during the rest of the session.
(Reporting by Swati Bhat)