Rupee falls to 55.50 due to private refiners buying Dollars

The rupee extends falls beyond 55.50, on way to stretching falls for a fourth session. The unit is at 55.50/51 after falling to 55.56 versus Tuesday's close of 55.41/42.

Dealers say a large private refiner, which was seen in late session on Tuesday, seen buying dollars again.

A state-run dealer says the USD/INR may see 55.70 during the session, though 55.60 may provide some immediate resistance.