The Indian rupee fell against the US dollar to its weakest level in nearly 6-months on Wednesday as domestic equities erased their early gains to end modestly lower ahead of the Federal Reserve Chairman Ben Bernanke's congressional testimony.
Disappointing fourth quarter results from the engineering & construction giant Larsen & Turbo also brought the positive sentiment down, sending the BSE Sensex 49 points or 0.25 percent lower at 20,062 and the broader 50-share Nifty index falling by 20 points or 0.32 percent to 6,094.
Extending its 5-day losing streak, the rupee reached 55.64 against the dollar on Wednesday afternoon, its weakest level since November 29. Next key levels to watch for the rupee on the downside are 55.90, 56.0, 56.50 and 57.30.
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Forex News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.