Rupee at 40.45 against US dollar
In sync with the recovery in stock markets, the Indian rupee on March 11 gained by 3.50 paise to close at 40.45/46 against the greenback. At the Interbank Foreign Exchange (Forex) market, the domestic unit resumed sharply lower at 40.58/59 a dollar against Monday's close of 40.4850/4950 per dollar.
Forex dealers said the initial weakness in rupee was mainly due to early fall in the benchmark Sensex which fell by nearly 185 points on sluggishness in Asian indices. The rupee premiums on forward dollar ended slightly well on stray paying pressure from banks and corporates. The benchmark six-month forward dollar premiums payable in August ended at 14 - 16 paise, slightly better from 13-1/2 - 15-1/2 paise on Monday and Far-forward maturing in February also edged up at 30 - 32 paise from 29-1/2 - 31-1/2 paise.
India's January industrial output up 5.3%
India's industrial output rose 5.3% in January from a year earlier, slowing sharply from the previous month's upwardly revised 7.7%, data showed on Wednesday.
The figure was dragged lower by sluggish growth in manufacturing and mining sectors.
Growth has fallen from double-digit levels seen last year as the impact of tight monetary policy and a strong rupee capped demand.
Manufacturing production rose 5.9% in January from a year earlier, compared with a provisional annual growth of 8.4% in December.
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