India Rupee at One-Week Low
The Indian rupee dipped to its lowest level in a week against the U.S. dollar Wednesday, mainly because of a slide in the euro, with a late recovery in local stocks lending little support.</br></br>The dollar was at 55.48 rupees late Wednesday, compared with 55.94 on July 12 and 55.11 rupees late Tuesday in Asia.</br></br>The Bombay Stock Exchange's benchmark Sensex finished 0.5% higher.</br></br>The rupee opened on a positive note, mirroring strength in the euro. But the greenback gained after Federal Reserve Chairman Ben Bernanke gave few clues to point toward a more near-term economic stimulus while speaking before a Senate committee.</br></br>Still, Mr. Bernanke's bleak assessment of the U.S. economy led investors to hope that the central bank might be forced to take monetary easing steps.