Thursday, the Indian rupee declined to a 3-day low of 51.83 against the US dollar as India's industrial production and the weekly inflation continued to fall.
The Central Statistical Office said India's industrial production declined 0.5% on a yearly basis in January, following a revised decrease of 0.6% in December. However, production dropped less than a 0.9% fall expected by economists.
India's inflation rate fell for the sixth consecutive week, with the rate for the week ended February coming in at 2.43%, compared to 3.03% in the preceding week. This would be the smallest rise since June 8, 2002, when inflation was at 2.18%. The lowest ever inflation rate was 1.13%, which was recorded in the week ended Feb. 2, 2002.
If the Indian currency weakens further, it may likely target the 52.03 level. The dollar-rupee pair closed yesterday's New York session at 50.98.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.