Rupee falls below 56/USD, at over 9-1/2 month low

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Reuters
Last Updated : May 29 2013 | 9:56 AM IST

Reuters Market Eye - The rupee falls to 56.15/16 versus its Tuesday close of 55.9550/9650, tracking losses in domestic share market and broad gains in the dollar versus majors and other Asian currencies. The unit hit 56.18 in opening deals, its weakest since August 8, 2012.

Dealers say month-end dollar demand from oil companies and other importers is also likely to boost the dollar.

Asian currencies mostly trading weaker versus the dollar.

The BSE Sensex share index down 0.3 percent.

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.

The index of the dollar against six major currencies up 0.2 percent.

(Reporting by Swati Bhat)

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First Published: May 29 2013 | 9:41 AM IST

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