The rupee edges up to 54.44/45 versus its previous close of 54.60/61 and off the day's lows of 54.7850, its weakest since September 14 as domestic shares recovered.
Traders say a sharp rise in the pair to a one-and-half month high earlier in the session also prompts some position squaring.
Some custodian banks were also seen selling the greenback, dealers say.
Traders will monitor the results of the U.S. elections later in the day for near-term direction.
