Indian Rupee Slips to 7-Week Low as Industrial Output Cools
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India’s rupee fell to its weakest level in more than seven weeks on concern inflows of funds into the nation’s assets will moderate after the government reported the slowest growth in industrial production in 16 months.
Output at factories, utilities and mines rose 4.4 percent in September from a year earlier, the smallest increase since May 2009, the statistics office said Nov. 12. The median estimate of 27 economists in a Bloomberg News survey was for a