The rupee should gain on Wednesday on the back of the dollar's decline versus major currencies overseas and tracking gains in regional sharemarkets.
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The dollar was hovering near one-month lows against a basket of currencies as investors cut long positions after the U.S. Federal Reserve retained its dovish bias by pledging to keep interest rates low.
Traders said they would watch the domestic stock market for direction. At 0238 GMT, the MSCI index of Asian shares ex-Japan was trading up 1 per cent while the Nifty India stock futures traded in Singapore were 0.6 per cent higher, suggesting a firm start for the local market.
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The partially convertible rupee ended at 45.58/59 per dollar on Monday after hitting 45.6750, its lowest since March 5, and about 0.3 per cent weaker than 45.43/44 at close on Friday.
The forex and debt markets were closed on Tuesday for a local holiday.
