The rupee rose on Wednesday to pull back further from a two-year low touched in the previous session helped by a firm euro and domestic equities.

* Traders said the outcome of the U.S. Federal Reserve's two-day meeting which started Tuesday was keenly awaited as the Fed is expected to announce a rebalancing of its portfolio to help push longer-term interest rates lower and boost growth.

* At 9:16 a.m., the partially convertible rupee was at 47.89/90 per dollar, stronger Tuesday's close of 48.05/06 when it had hit 48.24, a level last seen Sept. 25, 2009.

* The euro was $1.3715, higher from $1.3682 at end of rupee trade on Tuesday, while the index of the dollar against six major currencies was 76.929 points from 77.105 previously.

* The BSE Sensex was up more than 0.2 percent in early trade after jumping more than 2 percent on Tuesday.