USDINR opened 11 pips weak @ 70.59/60 against Tuesday Closed at 70.48/49.
Rupee Early morning weakness persist on Dollar strength on firm USA data.
Oil price showing strength as well as Precious Metal getting demand again.
The unemployment rate in India rose to 7.2 percent in February 2019, the highest since September 2016, and up from 5.9 percent in February 2018, according to data compiled by the Center for Monitoring Indian Economy that was released on Tuesday.
Philippine peso, Malaysian ringgit lead losses; yuan gains.
INTRADAY RANGE - 70.27( 70.45 - 70.88 ) 71.07
On Tuesday, At the Interbank market, the USDINR unit opened slightly down at 70.94.
During the day, the local unit, however, gathered momentum and rose to an intra-day high of 70.4550 before finally ending at 70.48, showing a gain of 0.5250 pips.
The local unit had weakened by 20 pips to close at 70.92 against the US dollar Friday.
On Wednesday, the RBA ended a 30th straight meeting with rates at a record-low 1.50 percent.
The dollar held gains against its peers early on Wednesday, thanks to higher U.S. yields and better-than-expected data, while its Australian counterpart took a knock after disappointing economic growth figures for last quarter.
On Tuesday, the U.S. dollar rose as unexpectedly strong data on U.S. services industries and new home sales helped sooth some fears about the state of the world's top economy.
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