Rupee weakens to 1-week high

Rupee trades at 55.81/82 versus its previous close of 55.65/66, after hitting 55.8375, its weakest since August 28, tracking weakness in the domestic share market and a risk averse sentiment regionally.


The Sensex trades down 0.3 percent, with most other Asian currencies also trading weaker versus the dollar.

Euro also trading down but losses capped ahead of a European Central Bank meeting on Thursday.

Traders say the pair can rise to 56 levels if dollar demand from oil companies continues through the day, but exporters are expected to come in and sell dollars around those levels, resisting any further upside.

SC/ST Quota Bill in Rajya Sabha, BJP may disrupt House

The Bharatiya Janata Party (BJP) is expected to continue to protest in Parliament on the coal scam, putting a question mark on the passage of the bill for quota-based promotions for SCs and STs in government jobs. The government is planning to introduce it in the Rajya Sabha after the cabinet gave it a go-ahead on Tuesday.


The BJP, though, will not say whether they support or oppose the bill, their stand will remain ambiguous. Party sources say they do not want to be seen diluting their protest on corruption for an issue which is purely a BSP agenda.

BJP leaders had met on Tuesday evening and the party decided to ignore BSP chief Mayawati's overtures. Mayawati had met senior BJP leaders Sushma Swaraj and Arun Jaitely on Tuesday requesting them to allow Parliament to run to pass the bill.

The Quota Bill being a Constitutional amendment bill needs a two-third majority of the members present in the House. Without the BJP, the bill has slim chances of being passed as the Samajwadi Party is also against the bill.