The rupee is trading near day's high, having pared most of its losses in the session on corporate dollar selling. The USD/INR pair is at 62.63/66 versus 62.9050 intraday low and 62.60/61 last close.
Some corporate inflows around 62.85 are helping INR, but importer bids are keeping the pair supported.
The pair is likely to remain in the 62.50-62.90 range for the day.
Local stocks are off highs, up 0.02 percent.