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The rupee is trading at 61.535/545 vs Tuesday's close of 61.55/56. Shares will be watched for clues on foreign fund flows.
The Nifty rose 0.4% to hit an all-time high at 8,399.25.
Most Asian currencies are trading weaker versus the dollar. Index of the dollar versus six majors is up 0.1%.
Caution prevailed ahead of retail inflation data at 5:30 pm. The CPI is seen rising 5.8% in Oct, a record low.
Traders see the pair in a range of 61.40 to 61.65 during the session.
