The Indian rupee that weakened against the U.S. dollar in late morning deals on Friday amid the release of country's GDP data erased losses shortly thereafter.
The rupee thus recovered from a 3-day low of 55.78 against the greenback and is now trading at 55.695. The greenback-rupee pair closed Thursday's deals at 55.635.
India's economy grew at a faster than expected pace during April to June on construction and services, data from the Central Statistics Office showed today.
Gross domestic product advanced 5.5 percent annually compared to the expected expansion of 5.2 percent. During the same period of last year, the growth rate was 8 percent.
by RTT Staff Writer
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