The Indian rupee erased its early morning advance against the dollar at the end of Tuesday's domestic deals, retreating to 53.8855 from a 3-month high of 53.3805 hit in the morning trading.
The rupee was down against the dollar on weak domestic equities. However, the declining trend for the dollar in offshore deals restricted the rupee losses to a limited extend.
The benchmark BSE Sensex ended the session down 120 points or 0.6 percent to end below the psychological 20,000 mark, while the broader Nifty index fell by 34 points or 0.56 percent to 6,048.
Further bearish trend could help the rupee re-test the 54.0 support level in the near-term. If the rupee resumes uptrend, likely resistance is seen around the 52.85 area.
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