Rupee falls to a near 1-week low in initial trades. Rupee at 53.33/34 after falling to 53.50, vs 53.285/295 last close.
Foreign fund flows continue to be robust with provisional net buy of $160.92 million on Monday in equities.
Pair has initial resistance at 53.37-40 which capped the dollar rebounds last week but sturdier resistance at 53.60-65, a previous support base last week, now turned solid resistance.
Fitch Ratings says India government's commitments, policy moves "encouraging", but implementation remains key.