The rupee falls slightly to 55.46/47 versus its previous close of 55.44/45 on the back of choppy movements in local shares and demand for greenbacks from oil refiners.
However, sharp gains seen unlikely ahead of July factory output data on Wednesday, which comes ahead of the RBI policy review on Sept 17.
Euro hovering below near four-month peaks ahead of Germany's constitutional court ruling on the legality of the euro zone's bailout funds due on Wednesday, and the outcome of the Fed's meeting on Thursday.
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