)
The rupee is trading at 61.07/08 versus its previous close of 61.19/20 but off its session high of 60.88 on demand for the dollar from oil refiners.
Domestic shares also gave up gains on profit-taking after hitting new life highs earlier in the session.
Traders will continue to monitor shares and debt for cues on foreign fund flows during the session.
The pair is expected to hold in a 60.85 to 61.20 range during the rest of the day.
