CP UPDATE: INDIAN RUPEE

The Indian rupee opened weak at 56.16 per dollar versus 55.96 Tuesday. The rupee was trading at its lowest level since June 28, 2012 on strong buying in US dollar, reports CNBC-TV18.

 

The dollar gained broadly in early Asian trade on Wednesday after robust economic data boosted Treasury yields and raised expectations that the Fed may make an early exit from its easing scheme, making the greenback more attractive, reported Reuters.

Brent crude gained more than 1 dollar on Tuesday as US consumer optimism and signs of easier monetary policy from central banks pushed stock markets higher, while increasing Middle East tension also supported oil.

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