Rupee gains, tracks stronger Asian currencies

Fed meet later in the day eyed for further cues

The rupee is trading at 61.0425/0500 versus Monday's close of 61.13/14.

The pair pares losses made on Monday, when the Indian unit saw its biggest daily fall in 1-1/2 months.

Asian currencies are trading mostly stronger versus the dollar.

Traders will watch the outcome of the Fed meeting later in the day.

Foreign banks bought debt worth $458.1 million on Monday, highest purchases since Aug 21.