Indian rupee remained centered around 48.50 mark in afternoon trade Friday after the local equity markets pared most of its losses calming nerves about more capital inflows.
At 2:10 pm, the partially convertible rupee was at 48.51/55 per dollar, off a low of 49, but still weaker than its previous close of 48.33/34, when it rose to a one-month high of 48.25.
Dealers said the industrial output data did not have much impact on the rupee. India's industrial output fell 0.4 per cent in October from a year earlier, sharply below the previous month's upwardly revised 5.5 percent, data showed on Friday
