RTTN: Rupee Falls To 4-day Low Against Dollar Amid India's Industrial Production Data
(RTTNews) - The Indian rupee fell to a 4-day low against the U.S. dollar in late morning deals on Monday after a report showed that India's industrial production grew less than expected in February.
India's industrial production rose 3.6 percent year-on-year in February, weaker than the 5.2 percent growth expected by economists. A year ago, the index of industrial production recorded a 15.1 percent increase. The cumulative growth for the period April to February 2010-11 was 7.8 percent over the corresponding period of the previous year.
The rupee is currently worth 44.2313 per dollar, compared to a fresh 5-month high of 43.890 hit in early deals. If the Indian currency slides further, it may likely target the 44.6 level.
