Sushil Finance expects USDINR to trade positive as Fed may raise rates sooner and faster than expected and coal blocks cancellation could further add support. The Indian rupee rose on Tuesday, tracking gains in other Asian currencies, although broader gains were curbed by concerns about the wider economic impact after the country's top court ruled coal blocks awarded since 1993 were illegal.

Any mass cancellation of the coal blocks could lead to a surge in imports and widen the trade deficit given the impact on domestic production. The court will decide on Sept. 1 whether to cancel the allocations.

A basket of currencies traded against the greenback was up 0.12 percent after touching a fresh 2014 high of 82.698 and traded as low as 82.434. The dollar index was last at these levels nearly a year ago.

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