Reuters Market Eye - The rupee weaker for a second successive session, trading at 54.37/38, versus the previous close of 54.14/15.
The pair also helped by the euro's losses against the dollar after data showed Germany's private sector shrank for the first time in five months in April.
Prime Minister's Economic Advisory Council pegs FY14 economic growth at 6.4 percent, and says the worst slowdown in a decade has bottomed out.
(Reporting by Subhadip Sircar)
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