Because of being able to post mild gain during the day, the Indian rupee managed to recover from the day's low and ended in the green.

After this, the traders continued to watch the movement of US dollar as against all the major currencies.

At 1:17 PM, the partially convertible rupee stood at 46.22/23 per dollar which was higher than low end of the rupee for the day which stood at 46.3050. But even with this the rupee was 0.1 per cent weaker than the Tuesday's close when it was at 46.16/17.

Meanwhile, performance of the dollar was poor and it hit a eight-month low against the Japanese Yen on Wednesday. The US currency is slowly crawling towards its lowest level since 1995.

The movement was further pulled down because of the weak US economic data and the talks that the Federal Reserve will be coming up with a new policy.

Good news was that dollar's index stood up against all the six major currencies and gained 0.1 per cent. So, now the traders are of the point that they will continue to watch the currency before taking any decision.