An Indian one rupee coin is seen in this picture illustration taken in Mumbai

Rupee extends gains to a third session, tracking gains in Asian currencies, say dealers. The pair is at 55.33/35 after closing Monday trade at 55.52/53.

Dealers say the market is waiting for concrete reform moves by the government after Finance Minister Palaniappan Chidambaram said he plans to rein in the fiscal deficit and address tax concerns of overseas investors.

Asian shares showing modest gains, while euro held steady near a one-month high, reflecting modest risk-taking sentiment.