Mumbai: Rupee rises to 55.82/83 versus its previous close of 55.47/48 tracking weaker stocks and after the Federal Reserve held off from more monetary stimulus steps.

Rupee falls track lower Asian emerging market currencies, as some of the bullish bets on Fed action are unwound.

US monetary stimulus steps had been expected to lead to improved demand for risk.

However, further rupee gains capped as the euro edges higher after a Spanish bond sale drew decent demand and as investors position for the possibility of strong action by the European Central Bank later on the day.

The BSE stock index closed down 0.2%.