Traders expect the rupee to remain wedged between the 59.60 and 60.50 levels in the absence of any key triggers in the near-term.
The next major event for financial markets in India is the Reserve Bank of India's monetary policy review on August 5.
The Nifty brose to a record high, gaining for a seventh straight session, led by technology stocks on continued buying by foreign-investors on a positive earnings outlook, while firm Asian markets also helped.
Overseas buying of shares and debt continued, taking total investments across the two segments to $24.7 billion so far in 2014.
"I believe 60.05 is going to be a crucial support for the USD/INR. It needs to be seen if this level can be broken, which can then take it to 59.77 or even 59.55,"
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