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Indian rupee falls after output contracts, CPI stays high

Source : REUTERS
Last Updated: Tue, Feb 12, 2013 06:00 hrs

MUMBAI, Feb 12 (Reuters) - The Indian rupee extended falls against the dollar on Tuesday after December industrial output data unexpectedly contracted from a year earlier while the consumer price index remained above 10 percent last month.

December industrial output fell 0.6 percent from a year ago, compared with expectations for a 1.1 percent increase in a Reuters poll of analysts. Data at around the same time showed January consumer price inflation rose 10.79 percent from a year ago.

The rupee was trading at 53.94 as of 0545 GMT, compared with around 53.88 before the data was released.

However, the 10-year government bond yield was range-bound at around 7.86 percent from levels before the data, while India's benchmark stock index was also range-bound. (Reporting by Mumbai markets team; Editing by Anupama Dwivedi)



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