Reuters Market Eye - The rupee edges marginally higher to 54.96/97 versus Tuesday's close of 54.99/55.00 on the back of mild gains in regional and domestic sharemarkets.
Traders however say macroeconomic concerns would continue to occupy centrestage after Fitch's renewed ratings downgrade warning on Tuesday.
Traders expect the pair to move in a 54.85 to 55.05 range initially in the session. The Sensex trading up 0.3 percent while the broader Nifty trading up 0.2 percent.
(Reporting by Swati Bhat)