New Delhi: The Indian Rupee fells to 55.1050/11 levels from a session high of 55.0450 against the US dollar after industrial output data showed an unexpected contraction. But the currency is still trading higher than its Wednesday's close of 55.42/43.
Dealers says factory data exacerbates concerns about slowing growth, especially after brokerages including Citigroup and CLSA have downgraded their growth forecasts this week.
The BSE Sensex pared gains after the data, but is up 0.2 per cent from Wednesday’s close. (Read More)
Some oil-related buying of dollars was seen in the session, one dealer said.
The rupee is now expected to trade in 55.05-55.45 band for the rest of the day.
Copyright @ Thomson Reuters 2012
Dealers says factory data exacerbates concerns about slowing growth, especially after brokerages including Citigroup and CLSA have downgraded their growth forecasts this week.
The BSE Sensex pared gains after the data, but is up 0.2 per cent from Wednesday’s close. (Read More)
Some oil-related buying of dollars was seen in the session, one dealer said.
The rupee is now expected to trade in 55.05-55.45 band for the rest of the day.
Copyright @ Thomson Reuters 2012
