MUMBAI: The Indian rupee inched up early on Wednesday taking cues from positive regional peers and local stocks. However, upside to the rupee is seen limited on concerns of cash dollar shortage, strong defence-related dollar demand, and worries that stocks may not be able to sustain their rise in the day. * At 9:28 a.m., the partially convertible rupee was at 45.0625/0650, up from Monday's close of 45.155/165 when it had touched a 2-month low of 45.18. The market was closed on Tuesday for a local holiday. * Traders expect the rupee to move in a 44.90 to 45.05 band, with dollar buying expected to emerge at around 44.90. * Indian shares rose 0.4 percent in early trade on Wednesday taking cues from firm Asian peers. * The euro was steady against the dollar and the yen on Wednesday after recovering from recent lows, but wariness over sovereign debt problem in Europe made investors nervous about piling up euro positions. * The index of the dollar against six major currencies was down 0.30 percent at 75.177 points and lower than 75.652 points at local market closing time on Monday.

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