The rupee higher in opening trades, tracking gains in Asian FX, positive regional stocks. The pair is at 54.26/27 versus last close at 54.41/42.

Private dealer says good selling interest seen with likely trading range in 54.05-54.45 band for the session.

January factory data likely to show 1.2 percent growth, Reuters poll says. (Read full preview here)

Euro's recovery from Friday's slide also helping INR.

Share sales inflows will be watched with National Aluminium Co (NALU.NS) likely to fetch $260 million for the government later this week.

Financial Express reports the government may raise foreign fund limit in debt to $100 billion, a move if happens will be INR positive.