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The rupee is trading at 61.80/81 versus Tuesday's close of 61.86/87.
Gains in other Asian currencies vs the dollar is hurting sentiment for the pair.
Foreign funds bought shares worth $188.84 million in equities on Tuesday despite both the indexes closing weaker.
Movement in shares will continue to be monitored for fund-flow cues. The Nifty is trading down 0.13% in early trade.
The USD/INR is seen moving in a 61.60 to 62.00 range initially, dealers say.
